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(Kitco News) The price of gold maintained its daily gains after new home sales in the United States exceeded expectations in June, rising 13.8% from the expected 4% increase. May numbers were also revised upward to 19.4% advance.
New home sales were at a seasonally adjusted annualized rate of 776,000 homes in June, the United States Department of Commerce said Friday. May sales were revised to a rate of 682,000 units.
The market consensus demanded that sales advance to 700,000 units in June.
On an annual basis, new home sales increased 6.9% from last year’s estimate of 726,000 units.
Regarding home prices, the report says the median sale price of homes sold last month was $ 329,200, while the average price was $ 384,700.
The inventory of homes for sale at the end of June was 307,000, representing a 4.7-month supply at the current sales rate.
Gold spot prices were trading above $ 1,900 an ounce for the first time since 2011, while August Comex gold futures advanced to $ 1,900.70, an increase of 0.57% on the day.
![24-hour live gold chart [Kitco Inc.]](https://i0.wp.com/news.google.com/images/live/gold.gif?w=618&ssl=1)
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