Investing.com – The world gold price reached the highest levels ever in these trading sessions, today, Friday, after the release of data related to the housing market in the United States.
The US Commerce Department said a while ago that it rose 6.8% in July to a seasonally adjusted annual rate of 1.238 million units. The data came in lower than expected as economists were looking for a smaller decline to 1.34 million units. Meanwhile, June data was revised down to a level of 1.329 million units from the previously reported 1.353 million units.
Over the year, homebuilding was down 16% compared to activity in July 2023.
The report said that by -4.0% to a level of 1.396 million last month, which was also lower than expected for 1.43 million approvals. While June’s unaudited data was 1.454 million units. For the year, building consent notifications were down 7% from the July 2023 level.
At the same time, it now rises 1.4% to 2527 per ounce.
It is now up about 1.33% to $2,489 an ounce. After hitting all-time highs at $2,492 an ounce. The highest price was $2,483 last July.
The US housing sector is a major contributor to the country’s gross domestic product, and remains a major drag on the economy as persistently high prices and rising mortgage rates from the Federal Reserve’s aggressive tightening cycle have impacted many push home purchases out of the market.
2024-08-16 13:17:00
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