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Spot gold spikes to $4,070/oz high as U.S. new home sales rise 1.6% in June - KITCO

Source: KITCO

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DW NOTE

Gold at $4,070 is still $1,248 below the January high. New home sales up 1.6% is within the noise of monthly housing data — builders started 80,000 fewer units in June than May. The headline pairs a commodity 23% off its peak with a housing print that tells you nothing about why anyone is buying gold in the first place.

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Spot gold spikes to $4,070/oz high as U.S. new home sales rise 1.6% in June - KITCO

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Brent Breaks $100 for the First Time in Nearly Two Months

Bitcoin climbs as oil tops $100, equities drop after Iran strikes

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