Gold slips slightly in Asian trade

Gold futures fell modestly during Friday’s Asian session, extending declines seen during U.S. trade Thursday as traders digest central bank commentary. 

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.06% to USD1,670.35 per troy ounce in Asian trading Friday. The yellow metal fell 0.42% in U.S. trading Thursday. Gold was likely to find support at USD1,662.55 and resistance at USD1,685.65. 

Traders departed gold after the U.S. Dollar Index rallied following comments from European Central Bank President Mario Draghi. Draghi said the ECB is keeping a watchful eye on the euro’s recent strength for possible signs of euro zone inflation.Continue Reading