Gold ends higher around $1,343 after US data disappoints

Getty Images

Gold ended higher near a four-month peak on Tuesday after disappointing U.S. consumer confidence data augmented concerns over the pace of U.S. economic recovery.

The Conference Board, an industry group, said its index of consumer attitudes fell to 78.1 from a downwardly revised 79.4 in January. Economists in a Reuters poll had expected 80.0.

Chart: Precious Metals

Spot gold hit its highest since Oct. 31 at $1,343.20 an ounce after the U.S. data release and was last trading up 0.4 percent at $1,342 an ounce.

U.S. gold futures for April delivery settled $4.70 higher at $1,342.70 an ounce after touching a four-month high of $1,343.60 earlier.

A spate of soft economic data from the United States and China since the start of the year has drawn investors back to gold, which has risen more than 10 percent so far, after a 28 percent drop in 2013 that put an end to 12 years of gains.

The dollar was unchanged against a basket of main currencies, while equity markets moved lower.

For more information on precious metals, please click here.