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Gold Gains As ETF Holdings Inch Closer to Record

Tuesday, 22 October 2019 15:56 WIB

GOLDEMASSILVER

Gold reversed earlier losses as investors digest the latest trade and Brexit news. Holdings in gold-backed exchange-traded funds continue to close in on a record set in 2012.

Gold ETFs expanded for a third day Monday, extending this year's increase to 16%. Central banks including Turkey and Germany also added gold holdings last month, joining major buyers like Russia and China, data from the International Monetary fund show.

Spot gold rose 0.3% to $1,488.68/oz after two days of declines.

Spot silver gained 0.6% to $17.6590/oz. Platinum and palladium little changed.

Source : Bloomberg

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