Gold slipped more than 1 percent to briefly dip below $930 on Thursday after surging late the previous session to a two-week high following the Federal Reserves surprise move to buy long-dated US government debt. Gold was at $931.20 per ounce at 0649 GMT after earlier sinking to a low of $925 per ounce, down 1.6 percent from New Yorks notional close of $940.0 on Wednesday.
Holdings rose to a record 1,084.33 tonnes by March 18, up 15.28 tonnes or 1.4 percent from the previous day, the latest figures showed. Zurich Cantonal Bank said on Wednesday the amount of metal it holds to back its gold ETF has risen 13.5 percent since February 5 to 4.138 million ounces.
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