Gold price holding strong gains despite 19% rise in U.S. housing construction data

Kitco News) - The gold market continues to see strong bullish momentum and is seeing little movement from stronger than expected U.S. housing construction data.

Housing starts jumped 19.4% to a seasonally adjusted annual rate of 1.74 million units last month, the Commerce Department said on Friday. The data significantly beat expectations.  Economists had forecast starts would rise to 1.64 million units in March.

For the year housing construction is up a whopping 37% compared to March 2020.