Gold Eyes US Econ Data For Price Direction
Source: Streetinsider.com (3/27/07)
Spot gold was modestly supported Tuesday due to ongoing geopolitical concerns and dollar weakness as it awaits key U.S. economic data due over the next few days to provide further price direction, said traders.
"Trading is pretty quiet so far with no clear cues coming from Asia," but U.S. economic data should provide some direction, said a precious metals trader in London. Meanwhile, geopolitical tensions and a weaker dollar are providing modest support, he added.
...At 1135 GMT, spot gold traded at $665.20 a troy ounce, up 0.3% from Monday. The metal fixed at $665.15/oz, up 0.3% from Monday's PM fix of $663/oz.