Gold futures are trading slightly lower in the early part of Asia’s Friday session as traders lock in profits after the yellow metal flirted with a one-month in U.S. trading Thursday.
On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.01% to USD1,614 per troy ounce in Asian trading Friday after settling up 0.41% at USD1,614.10 a troy ounce in U.S. trading on Thursday.
Gold futures were likely to test support USD1,601.20 a troy ounce, Wednesday's low, and resistance at USD1,619.40, the high from Feb. 26. Some decent economic data points help lift gold on Thursday.
In U.S. economic news, initial claims for jobless benefits rose by 2,000 to 336,000 last week. The less volatile 7,500 to 339,750, the lowest reading since February 2008.