Gold regained strength on Wednesday after falling to a 1-month low in the previous session, but declines in ETF holdings to their lowest in 10 months suggested that speculators could still sell bullion to raise liquidity if equities reversed gains.
Spot gold added $6.05 an ounce to $1,400 an ounce by 0657 GMT, having fallen as low as $1,380.90 an ounce on Tuesday, its weakest since mid-February. Gold was trading below the 25-day moving average around $1,403. Premiums for gold bars in Hong Kong were offered from as little as 90 cents to the spot London prices to as high as $1.70, reflecting an illiquid market.
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