Last Updated :
27 July 2010 at 10:45 IST
Gold edges up, awaits key US data
SINGAPORE (Commodity Online) : Gold prices showed positive trends in Asian trade Tuesday mainly on a firm euro in an otherwise thin market.
Gold for immediate delivery was seen trading at $1184.88 an ounce at 12.00 noon Singapore while U.S. gold futures for August delivery was at $1,184.2 an ounce at the same time.
Analysts said traders are waiting for the release of some influencing data from the US later in the day to get a clear picture of the market scenario.
Gold had fallen nearly $8 on Monday after strong U.S. home sales data dented its safe haven appeal.
Meanwhile, SPDR Gold Trust the world's largest gold-backed exchange-traded fund, said its holdings fell to 1,301.742 metric tons by July 26 from 1,302.046 on July 22. The holdings hit a record at 1,320.436 metric tons on June 29.
On Monday, prices settled modestly lower, unable to drum up much interest, as a jump in sales of new homes took off some of gold's shine as a safety buy and sent copper soaring to a two-month high.
Gold futures for August delivery fell $4.70, or 0.4%, to $1,183.10 an ounce on the Comex division of the New York Mercantile Exchange.
September copper added 4 cents, or 1.2%, to $3.22 a pound, the red metal's highest close since mid-May.
MCX GOLD.995 05 June 2012
contract was trading at
Rs 28259 , up Rs. 139 . What's your view on it?
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