Gold slips in Asia

18 Mar, 2009

Gold fell 0.4 percent on Tuesday, coming under pressure from selling by scrap dealers to lock in profits around $920 per ounce, while a rise in regional stock markets suggested some recovery in risk appetite. Trade was slow as Japanese institutional investors curbed activity before the fiscal year-end on March 31 and because the physical business in mainland China was quiet.
The worlds largest gold-backed ETF, the SPDR Gold Trust, said holdings hit a record 1,069.05 tonnes as of March 16, up 12.23 tonnes or 1.2 percent from the previous day.

Read Comments