GOLD (May 24) rising as home sales beat expectations
The US new home sales increased more than expected in April, leading to stable and increasing gold prices. The significant advance payment of the previous month has been adjusted lower.
Yearly, new home sales have increased by 11.8% with an estimated 611,000 homes sold in April last year. The average selling price for homes sold last month was $420,800, with a median price of $501,000. As of the end of April, there were 433,000 homes for sale, which is equivalent to a 7.6-month supply at the current selling price.
Gold prices rose with June futures trading at $1,974 on the Comex exchange, decreasing by 0.12% for the day.
Yearly, new home sales have increased by 11.8% with an estimated 611,000 homes sold in April last year. The average selling price for homes sold last month was $420,800, with a median price of $501,000. As of the end of April, there were 433,000 homes for sale, which is equivalent to a 7.6-month supply at the current selling price.
Gold prices rose with June futures trading at $1,974 on the Comex exchange, decreasing by 0.12% for the day.
Comment:
⚠️Signals of the Asian session that only the European session will match :')
✅Buy order in the $1,964-$1,967 price zone when the support zone is approached.
✖️Stoploss: $1,960.
✅Sell the $1,986-$1,984 range when the price hits the resistance area.
✖️Stoploss: $1,990.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!