09:20 AM EDT, 06/20/2024 (MT Newswires) -- Gold traded higher early on Thursday even as the dollar and yields rose despite weak U.S. economic data.

Gold for August delivery was last seen up US$4.50 to US$2,351.40 per ounce.

The rise comes after the U.S. Census Bureau reported housing starts fell to a seasonally adjusted 1.28 million in May, down from 1.36 million in April and under expectations for 1.38-milllion starts, according to Marketwatch. New building permits also fell, dropping to 1.39 million from 1.44 million a month earlier and under expectations for 1.45-million new permits.

The dollar and yields rose following the weak data, both bearish notes for gold.

The ICE dollar index was last seen up 0.23 points to 105.48, while the U.S. two-year note was paying 4.746%, up 2.1 basis points, while the yield on the 10-year note rose 5.0 basis points to 4.277%