Investors continued to pull money out of gold-backed exchange-traded funds, as the precious metal holds below $1,300 an ounce and markets await fresh catalysts.
Spot gold down 0.2% to $1,296.33/oz. Metal as much as +1.2% to $1,300.81 on Friday, to highest since March 1. Bloomberg Dollar Spot Index little changed. In other precious metals Silver -0.1%, Platinum -0.5% and Palladium little changed.
Holdings in bullion-backed ETFs declined for a fifth week to the lowest level in two months. The metal has fallen out of favor lately following a stellar start to the year, but managed to eke out a weekly gain after Friday’s U.S. payroll data.
Source : Bloomberg