Gold Rallied After US Housing Data

The price of gold rose today after the less-than-expected home building permits data.

Homebuilding permits decreased to 1,760 million, compared to an expected 1,770 million. Housing Starts fell 9.5% in April.

Gold is receiving from the increasing US dollar index its weakness, in light of weak US data, and expectations to keep interest rates stable until 2022. The market awaits tomorrow the Fed’s minutes of its last meeting.