Gold prices gain in Asia in early trade as data trail eyed

Gold edged higher in early Asia on Wednesday with investors following the U.S> data trail closely for likely indications on U.S> interest rates.

On the Comex division of the New York Mercantile Exchange, gold for April delivery gained 0.43% to $1,231.40 a troy ounce.

Gold futures continued their upward move on Tuesday after The Conference Board said its Consumer Confidence Index for February fell sharply to 92.2 from a revised 97.8 a month earlier. With the considerable declines, consumer confidence in the U.S. fell to its lowest level since last July. Analysts only expected to see minor declines of 0.6 on the month to 97.2.