Today, the U.S. Census Bureau updated on the number of new homes sales in the
U.S during February 2012: new homes sales slightly declined again compared with
the number of homes sold during January 2012. According to the recent report,
during February 2012 the annual rate of number of U.S new home sales reached
313,000 (seasonally adjusted); this figure is 1.6 percent below the revised
annual rate in January 2012 of 318,000 sales, but it is still 11.4% above the
annual rate in February 2011. The median sales price of new dwellings sold in
January 2012 reached $233,700. This news coincides with the decline in sales of
existing homes – a report that was published a couple of days ago. This news
doesnt look well on the recovery of the U.S. real estate market. Therefore this
news may be among the factors to weaken the US dollar against major currencies
including Euro and consequently may positively affect the prices of major
commodities including gold and crude oil. This report may also adversely affect
the American stock markets, which are currently traded with mixed trend. Current
gold price, short term futures (April 2012 delivery) is traded at $1,660.80 per
t oz.
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