Spot gold shoots to $4,490/oz after U.S. housing starts fall -4.6% in September, -0.2% in October

(Kitco News) – Gold prices are trading at session highs this morning after the latest data showed the U.S. housing market declining more than expected in September and October.Housing starts fell 4.6% in September to a seasonally adjusted annual rate of 1.306 million units, the Commerce Department announced on Friday. The data was worse than expected as economists looked for a decrease to 1.330 million units. August’s number was unrevised at 1.307 million units.