A
report from the National Association of Realtors today showed contracts
to purchase existing homes increased 3.4 percent in March, topping
estimates by analysts. Earlier, gold reached a one-week high as
escalating tensions in Ukraine spurred purchases for a haven. The U.S.
imposed sanctions on seven Russian officials and 17 companies linked to
President Vladimir Putin™s inner circle.
Gold
futures for June delivery fell 0.1 percent to settle at $1,299 an ounce
at 1:43 p.m. on the Comex in New York. Earlier, the price reached
$1,306.60, the highest for a most-active contract since April 16.
Trading
was 27 percent lower than the average for the past 100 days, data
compiled by Bloomberg showed. Futures climbed in the previous three
sessions, the longest rally since March 14.
The
metal tumbled 28 percent in 2013 on speculation that the Federal
Reserve would reduce stimulus amid signs of a recovery in the U.S., the
world™s largest economy.
Source : Bloomberg