Gold bullion finds technical support at $1400.00 (Barcelona) - Despite swinging under $1395.00 yesterday, the most active gold future for April delivery seems to find firm support at $1400.00 leading the yellow metal to what looks like its 4th consecutive week of gains. Currently the gold contract lingers just above opening price at $1403.70 a troy ounce, ahead of highly anticipated US GDP figures.

Escalating unrest in Libya which has led to detrimentally high oil prices once again is driving market sentiment today. Throughout the week gold bullion has gained on the overall uncertainty enveloping the market, as it´s broadly seen as a safe-haven investment in light of high inflation expectations and lower economic growth.

The market will also keep a close eye on the upcoming US quarterly growth report which will signal the strength of the recovery in the world´s largest economy. What´s more, Reuters and the University of Michigan will release their monthly consumer confidence index which will likely trigger modest market action.