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Gold Pauses After Recent Drubbing

Gold futures steadied Friday morning after significant losses in the previous few sessions.

August gold was up $1.60 at $1256.10 an ounce, hovering near yesterday's 3-week low.

U.S housing starts data will be released at 8.30 am ET. The economists are looking for growth of 1.223 million, up from 1.172 million in the prior year. Permits are projected to be almost steady at 1.249 million.

The Institute for Social Research of the University of Michigan's Consumer Sentiment data for June will be revealed at 10.00 am ET. The consensus is for an unchanged 97.1 from prior period.

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