Gold Prices Slip to $4,268 per Ounce as US New Home Sales Jump 6.4%

Spot gold hit session lows on Thursday after US new home sales rose 6.4% in August, beating the expected 3.2% gain. The seasonally adjusted annual rate reached 684,000 units versus forecasts of 620,000, while July figures were revised upward to 643,000. Year-over-year sales fell 2% from 698,000, with median prices at $393,700 and inventory at 483,000 units.