Home Sales Up 6.8% In March

Thanks largely to the extension of a subsidy to first-time home buyers, home sales in March increased 6.8% from the downwardly-revised February figure. Compared with those of a year ago, sales were up 16.1%. Although inventories increased 1.5%, house prices have stabilized.

The U.S. Dollar Index benefitted from the news, but gold didn't. The former got up to 81.7, while the latter is still languishing at around $1,134 after an eight dollar an ounce drop around 9:30.