Yesterday, the U.S. Census Bureau reported on the shifts in number of new homes sold in the U.S during August 2012: the number of new homes sales edged down compared with the number of new homes sold during July 2012.
According to the recent report, during August 2012 the annual rate of number of U.S new home sales reached 373,000 (seasonally adjusted); this figure is 0.3 percent below the revised annual rate in July 2012 of 374,000 sales, but it is 27.7% above the annual rate in August 2011.
The median sales price of new dwellings sold in August 2012 rose to reach $256,900.
Currently this news doesn’t seem to have much of an effect the U.S stock markets as the market is mostly following the recent developments in Spain and Greece. Yesterday, the U.S stock markets including Dow Jones, S&P500 and NASDAQ declined.
Further, precious metals prices also declined yesterday, but they are currently rising. There is a tendency of a negative relation (that should be taken with a grain of salt) between the changes in new home sales and bullion rates: as the number of homes sold fall, precious metals tend to rise.
Current gold price, short term futures (October 2012 delivery) is traded at $1,760.3 per t oz. a $6.7 increase or 0.38%, as of 08:10*.
Current silver price, short term futures (October 2012 delivery) is traded at $34.2 per t oz. a $0.26 increase or 0.77%, as of 08:10*.
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