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Gold Holds Above $4,300 as US Home Sales Beat Expectations

By Markets Desk · 2026-09-17 · 1 min read
A single, polished gold bar resting on a dark, textured surface.
Illustration: Tradingbird

Spot gold traded at $4,374.60, up 2.7%, while US pending home sales rose 0.3% in August. The market remains stable despite a recent interest rate hike.

Spot gold held at $4,374.60 per ounce on Thursday. The price represented a 2.7% gain for the session. The metal traded solidly above the $4,300 level. Traders showed no immediate reaction to new housing data. The market stayed near its intraday highs.

The National Association of Realtors reported a 0.3% rise in pending home sales for August. This result beat consensus estimates of a 0.2% decline. July figures were revised down to a 2.6% drop. The annual index fell 4.7% for the year. The data indicates a fragile housing sector.

Federal Reserve Tightening Policy

The Federal Reserve raised interest rates by 25 basis points on Wednesday. Chair Kevin Warsh stated that further action is needed. The goal is to lower inflation to the 2% target. This monetary policy shift adds pressure to economic activity. The housing market struggles under these conditions.

Housing Sector Weakness Persists

Consumer confidence in buying new homes remains low. The pending sales index shows stalled momentum. Economic activity may face continued drag from this sector. Gold benefits from such macroeconomic uncertainty. Safe-haven demand supports the metal's price floor.

Market Sentiment Remains Stable

Traders viewed the mixed housing data as manageable. No major sell-off occurred in the gold market. The price action reflects broader risk aversion. GN auto markets/commodities: gold prices data confirms this trend. The asset class maintains its defensive posture.

Based on reporting by KITCO, compiled by the Tradingbird desk.

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