Gold down slightly in Asia after U.S. gains

Gold futures declined slightly in the early going of Wednesay’s Asian session after posting a strong performance during Tuesday’s U.S. session.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.17% to USD1,612.80 per troy ounce in Asian trading Wednesday. Bullion settled up 1.76% at USD1,614.50 a troy ounce in U.S. trading Monday in what was one of the best one-day performances for the yellow metal in weeks.

Gold futures were likely to test support USD1,574.80 a troy ounce, Monday's low, and resistance at USD1,653.75, the high from Feb. 13.Continue Reading...