Commodities
Gold Price Dips as US Housing Market Surpasses Expectations
The U.S. housing market showed signs of improvement in August, with new home sales rising by 6.4% compared to the previous month.
This surpasses the expected increase of 3.2%, according to data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
The seasonally adjusted annualized rate for new home sales reached 684,000 in August, exceeding forecasts of 620,000 units.
On an annual basis, however, new home sales decreased by 2% from the same period last year.