Daily Gold Update

Source: Dr. Bill Musgrave, American Gold Exchange

Austin— Gold climbed 0.5% to close above $1,323 as sharply lower U.S. housing data spurred safe-haven demand. ">U.S home sales fell 5.1% in January to the slowest pace in more a twelve months. Following a report on Wednesday that new-home construction plummeted 16% last month to the slowest rate since September, the new data point to a rapidly cooling housing sector that could undermine overall economic growth. Gold finished the week nearly a half-percent higher for its third straight weekly win.

The other precious metals also gained on the day but were mixed on the week. Silver added 0.5% for a gain of 1.6% since last Friday. Platinum jumped 1.1% today but finished down 0.2% this week. Palladium added another 0.5% today and 0.3% this week.

At the Comex close: April gold climbed $6.70 to $1,323.60; March silver rose 10 cents to $21.78; April platinum jumped $15.40 to $1,427.90; and March palladium added $3.70, to $740 an ounce.