According to a Marketwatch report, new U.S. home sales for December are up to the highest level since the tax credit expired: 329,000 annualized, well above expectations. The November number was revised downwards slightly. Based upon the current sales rate, average inventories (of new homes) shrunk to 6.9 months.
This number had an effect on gold, but largely in the discounting of it. As feared, the news was good; gold dropped below $1,330 just before the number's release. Despite a spike-up shortly afterwards, the metal's still there.
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