Although there's been a recent string of data suggesting that the U.S. economy and housing markets haven't been doing all that well, the National Association of Realtors' pending homes sales index isn't one of them. For February, the index rose 2.1% to 90.8. Still, it hasn't reached the same level it was at as of the expiry of the first-time home buyer's tax credit.
Gold didn't like the news all that much. After a nice recovery from $1,412 to $1,418, its footing was loosened by the release of this report. The metal spent some time slipping before resuming its climb.