Gold prices were slightly higher on Tuesday as Asian stocks eased, but still stood near a seven-week low touched in the session earlier as Emmanuel Macron’s victory in the French elections reduced the safe-haven appeal of the metal.
Spot gold rose 0.1 percent at $1,227.08 an ounce after falling to a seven-week low of 1,224.86 in the session earlier. U.S. gold futures were stable at $1,227.10 per ounce.
Holdings of SPDR Gold Trust, the world’s biggest gold-backed exchange-traded fund, tumbled 0.14 percent to 851.89 tonnes.
Africa’s largest gold miner AngloGold Ashanti posted a 16 percent decline in quarterly core profit, affected by a weak showing at its South African operations.
India’s gold imports in April more than doubled from 2016 to 75 tonnes due to strong demand in a festival that sparked buying and as jewellers stocked up in advance of the new national sales tax, according to provisional data from consultancy GFMS.
The London Bullion Market Association is set to publish details of physical gold and silver holdings in London vaults from summer of this year, it announced in a statement.
The material has been provided by InstaForex Company – www.instaforex.com
May 09, 2017 at 08:21AM
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