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Housing starts rose 12.2 to a seasonally adjusted annual rate of 1.575 million units last month, the Commerce Department said on Tuesday. At the same time, data for July was revised lower to a rate of 1.404 million units from the previously reported 1.45 million units.The gold market has seen renewed selling pressure since last week, with prices dropping below important long-term support at $1,675 an ounce and is seeing no significant bullish momentum.
The report said the number of building permits issued last month is down 14.4% compared to August 2021.
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