Gold Steady Above $1300 after Bullish U.S. Economic Data

Gold settled modestly higher on Wednesday as Wall Street stocks rose and as strong U.S. industrial production data fed investor caution about bullion a day after prices fell nearly 2 percent.

Gold traded near its key 200-day moving average support near $1,300 an ounce after a U.S. government report showed industrial production rose faster than expected in March.

Still, other U.S. data showed that the housing market still dragging the U.S. economy. Groundbreaking for new homes increased in March, but remained well below the post-recession peak hit in November.


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