If you’ve been waiting for a window of opportunity to open to buy gold after the summer-long bull run, consider this official notice. The precious metal price fell a little yesterday thanks to better than expected pending house sales figures, making now a great time to buy.
While expectations were that US pending home sales would increase 0.9% in August, they actually rose 1.6% thanks to buyers being able to take advantage of the low interest rate. The news made a welcome break for the real estate market after drops in previous months.
Pending home sales are an important metric for economists and publication of the encouraging figures saw the price of gold dip down from daily highs.