gold

OGold was higher again on Thursday with a weak dollar treading on thin ice despite the Federal Reserve's inflation forecasts ramping up.

Spot gold closed at $1,348/oz while April gold settled at $1,347.9o/oz adding a further $4.80 t the recent resurgence in the precious metal with bulls looking for a break and closes above $1,350. However, that wasn't to be on Thursday due to the US data that came in at bad timing with a better than expected  U.S. ISM data. The Institute for Supply Management manufacturing index in January dropped to 59.1% from 59.3% in December. All eyes now turn to nonfarm payrolls.

 $1345 guards the $1350 area ahead of Jan's daily highs and resistance near the $1358 region. T the downside, the $1337-36 guards $1326 horizontal support en-route $1320 level.