Last Updated :
04 February 2009 at 10:25 IST
Gold extends slide in Asia
Commodity Online
SINGAPORE :
Gold prices continued to tumble in Asia mainly on fund selling.
Bullion was trading at $897.30 an ounce, down $3.10 from New York's notional close on Tuesday and more than 3% below last week's highs of $930.40.
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However analysts said, investment inflows could also provide strong underlying support, with holdings at the world's largest gold-backed exchange-traded fund at a record high above 800 tones.
Gold gained more than 30% since falling to a 13-month low around $680 in late October, but the rebound also ignited sales of scraps in Asia, which together with fund selling put pressure on prices.
MCX Maize 20 March 2012
contract was trading at
Rs 1165 . What's your view on it?
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