Gold largely ignores 9.3% drop in US pending home sales

(Kitco News) – The U.S. housing market has been unable to attract solid momentum and continues to struggle as fewer consumers begin the process of buying a new home, according to the latest report from the National Association of Realtors (NAR).The U.S. pending home sales index dropped 9.3% in December, the NAR announced on Wednesday. The data was significantly weaker than forecasts, as economists had expected only a 0.3% decline.