It don't make sense. "Gold fell below the psychological $1,800 an ounce level as the U.S. new home sales missed expectations in June with a fall of 6.6%. The prior month’s number was also revised down.
New home sales were at a seasonally adjusted annualized rate of 676,000 homes in June, the U.S. Commerce Department said on Monday. May’s sales were revised down to a rate of 724,000 units from 769,000.
The market consensus called for sales to advance to 800,000 units in June.
On an annual basis, new home sales were down 19.4% from last year’s estimate of 839,000 units."
Gold price ticks down below $1,800 as U.S. new home sales disappoint in June | Kitco News
When the USD is down, gold is too? That's counter-intuitive.
b.