Gold
held on to overnight gains on Tuesday as simmering tensions in Ukraine
stoked its safe-haven appeal, but the metal was at risk of falling back
on weak physical demand and bullion-fund outflows.
Spot
gold was little changed at $1,295.40 an ounce by 0013 GMT, after
gaining 0.5 percent on Monday. The metal traded in a wide range in the
previous session, climbing at one point to $1,303.80 before giving back
some gains.
Pro-Moscow
rebel leaders in eastern Ukraine called for their region to become part
of Russia, a day after staging a referendum on self-rule, although
Moscow stopped short of endorsing their bid for annexation.
SPDR
Gold Trust, the world's largest gold-backed exchange-traded fund, said
its holdings fell 2.39 tonnes to 780.46 tonnes on Monday - the first
outflow since May 2.
Source : Bloomberg
No comments:
Post a Comment