(Kitco News) -The gold market remains caught in neutral finding littlemomentum in either direction even as the U.S. housing market continues toattract buyers.
Existinghome sales rose to a seasonally adjusted and annualized rate of 6.29 millionunits last month, up 7% compared to August's annualized rate of 5.88 millionhomes, the National Association of Realtors (NAR) said Thursday. The latestsales data beat market consensus projections; economists were calling forexisting home sales to rise to 6.10 million.
Annually,the report said that home sales are down 2.3% compared to September 2020.
Thegold market is seeing little rection to the latest housing market data asprices remains under pressure below $1,800 an ounce. December gold futures lasttraded at $1,780.20 an ounce, down 0.26% on the day.
By Neils ChristensenFor Kitco News
Follow neils_C