Silver Hurt by US Housing Data, but Still Above $19

iNVEZZ.com reported that positive news from the US housing market hurt silver prices today. Specifically, the white metal lost 0.88 percent this morning, hitting $19.299 per troy ounce.

As quoted in the market news:

Data released by the US Census Bureau shows the pace of U.S. home construction jumped in April to its highest level since November, exceeding all analysts’ forecasts and showing builders returned to sites after the harsh winter interfered with their work. Housing starts advanced 13.2 percent to 1.07 million, from 947,000 in March, while the median estimate of 79 in a Bloomberg survey was for 980,000 starts. Building permits climbed 8 percent to a 1.08 million annualised pace. Estimates called for a projected rise of only 1.01 million.

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