Gold prices holding on to gains following mixed U.S housing construction data

(Kitco News) - The gold market is hold on to modest gains but seeing little reaction to mixing U.S. housing construction data.

U.S. housing starts rose 6.3% to a seasonally adjusted annual rate of 1.64million units in June, the Commerce Department said on Tuesday. The data beat expectations as economists were expecting to see an annual construction rate of 1.59 million homes. May’s data was revised slightly lower to f 1.55 million units.

For the year housing construction is up more than 29%, the report said.