Today, the U.S. Census Bureau updated on the number of new homes sold in the U.S during March 2012: new homes sales declined again compared with the number of homes sold during February 2012.
According to the recent report, during March 2012 the annual rate of number of U.S new home sales reached 328,000 (seasonally adjusted); this figure is 7.1 percent below the revised annual rate in February 2012 of 353,000 sales, but it is still 7.5% above the annual rate in March 2011.
The median sales price of new dwellings sold in March 2012 reached $234,500.
This news coincides with the decline in U.S housing starts – a report that was published a few days ago.
This news continues to not positively reflect on the recovery of the U.S. housing market. Therefore this news may be among the factors to weaken the US dollar against major currencies including Euro and consequently may positively affect the prices of major commodities including gold and silver prices.
This report may also adversely affect the American stock markets, which are currently traded with mixed trend.
Current gold price, short term futures (May 2012 delivery) is traded at $1,642.7 per t oz. a $10.1 increase or 0.62%, as of 13:34*.
Current silver price, short term futures (May 2012 delivery) is traded at $30.97 per t oz. a $0.371 increase or 1.21%, as of 13:34*.
(* GMT)
For more on this subject: