SINGAPORE (Commodity Online) : Gold prices are also mixed Monday as spot gold dropped more than one percent in Asian trade while US gold advanced amid lingering uncertainties sin the market.
Gold for immediate delivery was seen trading at $1806.31 an ounce at 1.00 p m Singapore time while US gold for December delivery was at $1819.02 an ounce on the comex division of Nymex.
Analysts said the precious yellow metal is likely to remain highly volatile during the day but a surprise boost in spot prices is on the cards amid uncertainties after US Fed chairman failed to make any concrete statements to lift us economy.
Prices lost more than 1 percent last week, snapping seven straight weeks of gains.
Meanwhile holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, recorded an outflow of nearly 60 tones last week.
Market participants are eyeing data due later in the day including U.S. personal income and consumption, Mid-west manufacturing and pending home sales, for clues on the status of the world's largest economy.
On Friday, gold for December delivery gained $34.10 to settle at $1,797.30 an ounce on the Comex division of the New York Mercantile Exchange.
