WASHINGTON (dpa-AFX) - Gold futures continued to surge Thursday, extending monthly gains on a weaker dollar.
Dec. gold gained $8.10, or 0.6%, to settle at $1,322.20/oz, the highest in eleven months. Gold was up 4% for the month of August.
With inventory woes throughout the country continuing to stall contract activity, the National Association of Realtors released a report on Thursday showing an unexpected drop in pending home sales in the U.S. in the month of July.
NAR said its pending home sales index fell by 0.8 percent to 109.1 in July from a downwardly revised 110.0 in June. Economists had expected pending home sales to rise by 0.5 percent.
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