Gold Near Four Month High around $1340

Gold ended higher near a four-month peak on Tuesday after disappointing U.S. consumer confidence data augmented concerns over the pace of U.S. economic recovery.

The Conference Board, an industry group, said its index of consumer attitudes fell to 78.1 from a downwardly revised 79.4 in January. Economists in a Reuters poll had expected 80.0.

Spot gold hit its highest since Oct. 31 at $1,343.20 an ounce after the U.S. data release and was last trading up 0.4 percent at $1,342 an ounce.  U.S. gold futures for April delivery settled $4.70 higher at $1,342.70 an ounce after touching a four-month high of $1,343.60 earlier.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.