"Gold Prices Surge as US New Home Sales Hit 2-1/2 Year Low"

Sales of new U.S. single-family homes fell 0.3% in February, with the median new home price dropping 7.6% from a year ago, marking the lowest in over 2-1/2 years. The housing market remains strong amid a shortage of previously owned houses, with builders offering price cuts and incentives to make housing more affordable. Despite a rise in mortgage rates, new home sales are up 5.9% year-on-year, and the overall housing market is showing signs of improvement, although supply remains inadequate, keeping house prices elevated.