Spot gold at $4,385/oz after U.S. existing-home sales fall -1.7% to 4.06 million in July

Spot gold slipped back into negative territory after U.S. existing-home sales fell 1.7% in July to a 4.06 million annualized rate. Although the housing data confirmed some cooling in the market, it was slightly better than economists expected and June sales were revised higher to 4.13 million. The report did not trigger a major gold selloff, but it capped the metal’s gains as traders reassessed the macro backdrop. Gold was last quoted at $4,385.57/oz, down 0.11% on the day. The article suggests the housing market remains relatively resilient despite higher mortgage rates, which may limit immediate safe-haven demand unless broader economic weakness deepens.