US CB Leading Indicator (MoM) remains at 0.5% in Feb

The yellow metal was seen breaking higher Thursday on the heels of mixed data out of the US, which for the first time in over a week showed some alternative to a largely optimistic view of the economy in 2013. After yesterdays Fed interest rate decision, which offered little to the imagination – interest rates are indeed still pegged at 0.25% – gold prices have been operating positively, and in these moments have settled at USD $1612.27 per oz. slightly off its maximums during US trading. A hold above the 1610 level will be a minor victory for gold bears as they look to target a second consecutive weekly close.