18.12.201713:41:00UTC+00Gold Rises After Housing Data

Gold prices rose Monday as traders weighed upbeat U.S. housing data.

February gold was up $8, or 0.6%, to settle at $1,265.50/oz.

The National Association of Home Builders reported an unexpected improvement in homebuilder confidence in the month of December.

The report said the NAHB/Wells Fargo Housing Market Index jumped to 74 in December from a downwardly revised 69 in November.

With the unexpected increase, the housing market index reached its highest level since hitting 75 in July of 1999.

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