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Gold prices drop over 3% as U.S. home sales fall below expectations in October.

Market News
12 Nov 2026, 17:12 WIB
Kitco
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Bearish
Gold prices drop over 3% as U.S. home sales fall below expectations in October.

U.S. existing-home sales fell 5.5% in October to 3.75 million units, missing economists' forecasts and hitting the lowest level since August 2010. The decline was driven by higher mortgage rates, which have reached their highest levels since 2000, making home buying more difficult. This weaker housing market data pressured gold prices, pushing spot gold down by over 3% on the day. Despite the slowdown, many homeowners remain financially stable, and there could be pent-up demand if mortgage rates decrease in the future.

Spot gold price movement is the subject, with data as of Nov 12, 2026 19:51 WIB. For readers following US stocks on Pluang, the breadth shows 49 stocks rose and 98 fell among 150 priced US stocks. Notable movers include ASX down 6.32% at USD 35.43, MU down 5.16% at USD 769.40, and BABA down 4.80% at USD 96.65, with ASX seeing 69% sell activity. The most notable figure is ASX's 6.32% decline.

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