Disappointing U.S. pending home sales unable to push gold prices higher

Gold is failing to hold support near $4,000/oz and is not attracting a safe-haven bid amid a lackluster U.S. housing sector. The weaker housing backdrop could weigh on economic activity through at least the second half of the year, pressuring bullion sentiment.

Analysis

Gold is failing to hold support near $4,000/oz and is not attracting a safe-haven bid amid a lackluster U.S. housing sector. The weaker housing backdrop could weigh on economic activity through at least the second half of the year, pressuring bullion sentiment.