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At the same time, the report said that building permits for future homebuilding declined 4.3% to a rate of 1.458 million last month, which was also lower than the consensus expectation for a rise to 1.51 million permits. February’s print was unrevised at 1.549 million units. For the year, building permit issuances were still up 1.5% from last year.
Some economists have said that the pace of construction needs to improve for inventories to rise and prices to fall. The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc.
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