Gold prices holding firm following rise in U.S. consumer confidence

(Kitco News) - Gold prices are holding relatively steady as U.S. consumers appear to be slightly more upbeat in the new year than economists were expecting.

Tuesday, the U.S. Conference Board, said that its Consumer Confidence Index rose to a reading of 89.3, up from December’s revised reading of 87.1 and beating expectations. According to consensus forecasts, economists were expecting a reading around 88.9.

The gold market is not seeing much reaction to the latest economic data. April gold futures last traded at $1,860.30 an ounce, relatively unchanged on the day.