Gold edges lower ahead of U.S. data, Ukraine remains in focus

Gold edges lower ahead of U.S. data, Ukraine remains in focus


Gold prices extended losses from the previous session on Wednesday, as tensions between Russia and the Ukraine appeared to subside, while traders awaited the release of key U.S. economic data later in the session.

Prices last traded at $1,334.80 an ounce during European morning hours, down 0.25%, or $3.10. Gold futures lost 0.92%, or $12.40 an ounce, to settle at $1,337.90 on Tuesday.
Prices were likely to find support at $1,319.30 a troy ounce, the low from February 28 and resistance at $1,355.00, the high from March 3.
Meanwhile, silver for May delivery shed 0.2%, or $0.04 cents, to trade at $21.17 a troy ounce. The May contract ended Tuesday’s session down 1.22%, or $0.26 cents, to settle at $21.22 an ounce.