Spot gold spikes to $4,585/oz after U.S. new home sales rise 8.9% in February, 7.4% in March

Spot gold surged to $4,585 per ounce following a significant increase in U.S. new home sales, which rose by 8.9% in February and 7.4% in March. This spike reflects a shift in risk appetite among investors, as stronger housing data typically signals economic resilience, prompting a flight to safe-haven assets like gold. The gold market is particularly sensitive to changes in economic indicators, as they can influence inflation expectations and interest rate outlooks. Traders will be closely watching upcoming economic reports, including the next release of U.S. employment data, which could further impact market sentiment and gold prices.

Gold (XAU/USD) is a safe-haven asset and inflation hedge. Major drivers include Fed policy (real yields), central bank buying (PBOC, RBI), ETF flows, and geopolitical risk. Gold often moves inversely to DXY and real US yields.

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