Gold price dips to $4,268/oz as U.S. new home sales rise 6.4% in August

(Kitco News) - Spot gold is trading near session lows on Thursday morning after the latest data showed the U.S. housing market improving beyond expectations in August. New home sales rose 6.4% last month, double the expected 3.2% increase, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced. New home sales came in at a seasonally adjusted annualized rate of 684,000 in August. The numbers were better than forecasts, as the market consensus expected sales of 620,000 units. July’s sales were also revised up to 643,000 from 607,000 units. On an annual basis, new home sales were down 2.0% from the August 2025 rate of 698,000. Looking at home prices, the median sales price for new homes last month was $393,700, and the average sales price was $478,700. As of the end of August, the inventory of houses for sale was 483,000, representing a 8.5-month supply at the current sales rate. Economists continue to pay close attention to the U.S. housing market as it is a major contributor to economic activity. The housing sector has struggled after the Federal Reserve aggressively raised interest rates at the fastest pace in 40 years. Spot gold fell to a session low of $4,244.27 earlier in the morning, and last traded at $4,268.28 per ounce, down 0.45% on the day. Ernest Hoffman Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in Journalism from Concordia University. You can reach Ernest at 1-514-670-1339. Tags: U.S. New Home Sales US new home sales Share Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.