Gold dips after weak housing data
NEW YORK (MarketWatch) -- Gold futures were lower on Thursday, as the dollar firmed after the National Association of Realtors said existing home sales fell 2.7% to 5.10 million in August, the first monthly drop in five months. Gold for December delivery was down $6, or 0.6%, at $1,008.50 an ounce on the New York Mercantile Exchange. The dollar index /quotes/comstock/11j!i:dxy0 (DXY 76.63, +0.58, +0.76%) , which measures the U.S. unit against a basket of six major currencies, stood at 76.558, up from 76.377 in late New York trade Wednesday. The decline in sales was unexpected by most economists. The median forecast by economists surveyed by MarketWatch was for a small gain to a 5.40 million annual rate from 5.25 million in July
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