Gold Resumes Rally as Sign of Weaker U.S. Growth Spurs Demand

Gold rose in New York for the first time in three days as slumping U.S. home sales revived concern that the economy is weaker than forecast, spurring demand for the metal as a haven asset.

American sales of previously owned homes dropped in January to the lowest in more than a year, the National Association of Realtors said today. Gold, after slumping last year by the most since 1981, has rallied 10 percent in 2014 as signs that the U.S. economy wasn’t recovering in line with expectations renewed the metal’s appeal for investors.