Gold holds around 4-month high

Gold futures have continued to trade around four-month high levels in commodities markets today (February 26th).

This is ahead of further US economic data due later in the session, which will be closely assessed for indications as to the strength of the country's recovery.

Yesterday, the Conference Board revealed its consumer confidence index dropped by more than expected in February. 

Figures relating to American new home sales in January will be published today and this is considered to be a key indicator of housing market demand.

In recent weeks, a series of weak economic reports have led to suggestions the Federal Reserve may be required to pause the tapering of its quantitative easing programme and this uncertainty has boosted bullion prices.

Gold for April delivery traded around $1,341.70 per ounce in early European trading on the Comex division of the New York Mercantile Exchange, briefly advancing as high as $1,345.50 per ounce - the highest since October 30th.