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Gold prices down by a stronger dollar after a report on the U.S. housing market . Data presented by the National Association of Realtors (NAR), showed that at the end of last month, the number of contracts for the purchase of housing in the secondary market has increased markedly , thereby exceeded the forecasts , and fixing the first increase in the past nine months. Experts note that the recent improvement - a sign of stabilization in the housing market after the recent fluctuations.
According to the data , in March, the number of pending home sales increased by 3.7% after falling 0.5% in the previous month ( revised from -0.8 %). Many experts predicted growth in this index is only 1.0%. Recall that for the closing of the contract takes approximately 1-2 months.
If evaluated in the regional context , we can see that the growth was in the north- east, south and west , and the decrease - in the Midwest .
Meanwhile, it was reported that , despite the surge in the last month , the number of outstanding transactions are still 7.9% lower than in March last year.
March data suggest that in the near future sales will continue to grow , after a decline last summer , which was due to expectations of an increase in mortgage interest rates.
Traders await the results of the two-day meeting of the Committee of the Fed 's Open Market , which begins Tuesday .
June futures on COMEX gold fell to $ 1292.10 .
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