Gold futures are looking to end the week in strong fashion and are trading higher in the early of Friday’s Asian session ahead of the February non-farm payroll report due out from the U.S. Labor Department later today.
On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.21% to USD1,578.40 per troy ounce in Asian trading Friday. The yellow metal settled up 0.01% at USD1,575.10 a troy ounce in U.S. trading onThursday.
Gold futures were likely to test support USD1,566.80 a troy ounce, Wednesday's low, and resistance at USD1,1619.40, the high from Feb. 26.
Gold held steady despite news that the European Central Bank will leave interest rates unchanged at 0.75%. In other central bank news, the Bank of England disappointed markets by not announcing any changes to the size of its GBP375 billion asset-purchasing program. Continue Reading...
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