Gold price finding new support as U.S. New home sales drop 6.2% in April

(Kitco News) - The gold market is finding some bullish support following disappointing economic growth in the first quarter, and the precious metal could attract a further bid after weaker-than-expected U.S. new home sales.New home sales fell 6.2% in April to a seasonally adjusted annual rate of 622,000, down from March’s sales rate of 663,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced Thursday.The drop was significantly more than expected, as econ