Gold Slumped as Housing Data Raised Tightening Hopes, SNB Reduced Exemption from Negative Rates

Gold slumped, recording its biggest single session loss in 6 weeks as the strong US housing data raised rate hike expectations. Existing home sales grew +6.1% m/m in March. Sales increased across all regions, totaling a +10.4% increase from the same period last year.

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Gold Slumped as Housing Data Raised Tightening Hopes, SNB Reduced Exemption from Negative Rates