Monday, 11 August 2014

Gold dips on firmer equities; Middle East

Gold slipped further from a three-week high on Monday as investors eyed firmer equity markets and outflows from the world's top bullion fund, but held above $1,300 an ounce on concern over the Middle East and Ukraine. 

Spot gold fell 0.2 per cent to $1,306.30 an ounce by 0348 GMT, after hitting a three-week high of $1,322.60 on Friday. U.S. gold slipped about $3 to $1,307.80. 

Physical buying in top consumers China and India has also been sluggish, while strong economic data in the United States has stoked fears of a tightening in monetary policy. 



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