Gold futures
fell to three-month lows today, as an improved housing market boosted U.S.
equities and also resulted in a stronger dollar. Dow Jones Newswires is reporting
that futures for August delivery “fell as low as $1,159.60” (about 2 percent)
on the New York Mercantile Exchange’s Comex division.

The S&P/Case-Shiller1 Home Price Indices released today showed that May
growth rates in the housing market improved 5.4 percent compared with May 2009
figures.

JCK