Gold price maintained its daily gains after the U.S. new home sales beat expectations in June, rising 13.8% versus the expected 4% increase. May numbers were also upwardly revised to 19.4% advance.
Spot gold was down 0.2% at $1,867.36 per ounce by 0333 GMT, after hitting its highest since September 2011 at $1,876.16 in early Asian trade.
Gold futures climbed Tuesday to settle at a nearly nine-year high and silver rallied to prices not seen since 2014, with the precious metals lifted by an agreement on a fiscal rescue plan by European leaders and expectations for additional spending by the U.S. government.
Gold could rise to $3,000 to $5,000 an ounce in the next three to five years, up from the current price of $1,800.
Gold held steady above the key $1,800/oz level on Thursday, as worries over mounting COVID-19 cases offset hopes of a swift global economic recovery.
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Spot gold fell 0.2% to $1,806.30 by 0046 GMT, after rising to its highest level since September 2011 at $1,817.71. U.S. gold futures eased 0.1% to $1,818.40 per ounce.
Spot Gold Sell Between $1772—$1775 Target and SL Paid – Neal Bhai Reports