Gold remains under pressure as U.S. housing starts rise 19% in June

Kitco07-17

(Kitco News) - Gold prices remain trapped below $4,000 an ounce and have been unable to attract any significant safe-haven demand despite persistent uncertainty in the U.S. housing sector, which ...

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The data was significantly better than expected, as economists had forecast a more modest recovery to 1.31 million units.Meanwhile, housing starts are up 3.5% compared to the same period last year, the report said.Although construction activity has recovered from May’s sharp decline, permit data—a leading indicator—suggests a limited recovery later this year.The gold market is seeing little reaction to the latest eco","collect":0,"end_time":0,"defaultTopTitle":"kitco.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IYM":"基础材料ETF-iShares Dow Jones","VAW":"Vanguard Materials ETF","BK4582":"ESG ETF-MSCI","CUT":"Invesco MSCI Global Timber ETF","FMAT":"Fidelity MSCI Materials Index ETF","PKB":"INVESCO BUILDING & CONSTRUCTION ETF","WOOD":"iShares S&P Global Timber &Fores","HOMZ":"Hoya Capital Housing ETF","PSCM":"Invesco S&P SmallCap Materials ETF"},"translate_title":"美国 6 月份房地产开始上涨 19%，黄金仍面临压力","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HOMZ":1.5,"PSCM":1.5,"IYM":1.5,"FMAT":1.5,"CUT":1.5,"VAW":1.5,"PKB":1.5,"WOOD":1.5},"content_text":"(Kitco News) - Gold prices remain trapped below $4,000 an ounce and have been unable to attract any significant safe-haven demand despite persistent uncertainty in the U.S. housing sector, which threatens to weigh on economic activity through the second half of the year.\n\nAlthough construction activity recovered in June after falling to a six-year low in May, the sector continues to struggle.\n\nHousing starts jumped 19% last month to a seasonally adjusted annual rate of 1.47 million units, up from May’s revised annual rate of 1.20 million units, the Commerce Department announced on Friday. The data was significantly better than expected, as economists had forecast a more modest recovery to 1.31 million units.\n\nMeanwhile, housing starts are up 3.5% compared to the same period last year, the report said.\n\nAlthough construction activity has recovered from May’s sharp decline, permit data—a leading indicator—suggests a limited recovery later this year.\n\nThe report said that building permits for future homebuilding fell 3% to 1.37 million units last month, which was weaker than expected. According to consensus estimates, economists had forecast permit issuance to remain relatively stable.\n\nThe number of building permits issued has fallen 2.4% compared to the same period last year.\n\nThe gold market is seeing little reaction to the latest economic data as selling pressure continues after prices failed to hold support at $4,000 on Thursday. Spot gold last traded at $3,966.60 an ounce, down 0.22% on the day.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2652283748","isCrawlerRequest":true}