By Nick Godt
NEW YORK (MarketWatch) -- Gold futures were higher in volatile trade on Wednesday, after mixed economic reports that showed U.S. new home sales unexpectedly fell 3.6% in September while durable goods orders rose 1%. Safe-haven trades helped support the dollar, but benefited the Japanese yen even more. A weakening dollar helps lift gold. Gold for December delivery gained $1.40, or 0.1%, to $1,036.80 an ounce. The decline in new-home sales to a seasonally adjusted annual rate of 402,000 was well below the 438,000 pace expected by economists surveyed by MarketWatch.
