The U.S. Conference Board has reported that its Index of Leading Economic Indicators is up by 1% for December. Although cautioning that there remain economic headwinds, the institute said the overall figure points to a continued recovery.
Also up was sales of previously-existing homes, which jumped by 12% to a 5.28 million annual rate. The median price fell, from $170,500 in December '09 to $168,800 in last month, but inventory levels dropped to an 8.1-month average from 9.5 at the end of last November. Part of the reason for the stabilization is fewer new homes coming on to the market. (Another reason for the drop in inventory levels is houses being pulled off the market, like an increase in discouraged workers drops the unemployment rate.)
Gold didn't respond much to these items, although the metal did drop beforehand from $1,349 to $1,346. A further drop put it at about $1,345.
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