Gold Gains on Weak U.S. Data

San Francisco (Feb 25)  Gold prices rose on Tuesday, as weak U.S. consumer confidence data raised fresh doubts about the sustainability of the U.S. recovery, sending investors into the precious metal.

The consumer confidence index declined to 78.1 in February, from 79.4 in the previous month. Signs of a slowdown in the U.S. recovery have multiplied in recent weeks, with manufacturing and employment numbers all coming in below expectations.

Spot Gold rose $9 to $1342, while spot silver inched up 5 cents to $$21.95.