Investing.com - Investing.com - Gold prices were little changed near a four-month high on Wednesday, as investors looked ahead to U.S. economic data later in the day for further indications on the strength of the economy and the future course of monetary policy. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded in a range between $1,337.90 a troy ounce and $1,345.50 an ounce, the most since October 30. Gold prices last traded at $1,341.70 an ounce during European morning hours, 0.07% lower. Futures settled 0.35% higher on Tuesday to end at $1,342.70 an ounce. Prices were likely to find support at $1,307.10 a troy ounce, the low from February 20 and resistance at $1,359.40, the high from October 30. Meanwhile, silver for May delivery dipped 0.25% to trade at $21.94 a troy ounce. The May contract ended down 0.4% on Tuesday to settle at $22.00 an ounce. The U.S. was to release data on new home sales for January later in the session, a leading indicator of demand in the housing market. On Tuesday, the Conference Board said that its U.S. consumer confidence index declined to 78.1 in February, from a downwardly revised 79.4 last month, amid concerns over the short-term outlook for business conditions, jobs and earnings. A recent series of disappointing U.S. economic indicators have sparked concerns that the recovery has lost momentum since the end of last year as inclement winter weather weighed on growth. Gold and silver prices have been well-supported in recent weeks amid expectations that U.S. monetary policy will remain accommodative. Gold has gained nearly 8.5% since the beginning of the year, while silver has picked up approximately 8%. Elsewhere on the Comex, copper futures for May delivery declined 0.1% to trade at $3.225 a pound.

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