SINGAPORE: Gold ticked up on Tuesday but was stuck near its lowest in almost nine months, hurt by outflows from the top bullion backed exchange-traded fund as investors adjust positions on concerns of higher US interest rates and strength in the dollar.
Investors pulled out of SPDR Gold Trust, the top gold-backed exchange-traded fund, for a second day in a row, with the fund's holdings falling to 774.65 tonnes on Monday – its lowest since December 2008.
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!