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Investing.com – Important US data was just released, which deepened the wounds of gold, which is now declining strongly, with losses amounting to 1.6%.
The US home sales data surprised the markets as it came higher than experts’ expectations and rose dramatically, indicating that the economy is still in good health and far from recession.
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US home sales
It recorded 4.58 million homes, up from the previous reading when it recorded 4.19 million homes, which indicates a recovery in the real estate market in America.
In February, it rose by 14.5%, while expectations were for an increase of only 5%, and previous readings recorded a decline of 0.7%.
Currency traders are watching the Homes data closely, as it is the first indicator of the month to be published on demand in the real estate sector. Selling a house also means real estate agencies get commissions, and homeowners often buy new items for their homes such as tools and furniture shortly after they buy a house. The downward trend of this report has a negative impact on the country’s economy as the increase in home purchases from consumers means that they are in a state of confidence and optimism in their financial situation.
Gold and the dollar now
It fell 1.55% to 1948 dollars an ounce.
While US gold futures fell 1.6% to 1951 dollars.
It decreased by 0.14%, to record 108.78 points.
The Fed is now confused about it and the markets are confused with it.. How will gold, the dollar and bonds react to the interest decision now?
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