Gold fell for a third
session in a row on Tuesday, hurt by a stronger dollar and equities,
as well as profit-taking after recent sharp gains to a five-month
high. Spot gold eased 0.5 percent to USD 1,274.43 an ounce by 0044
GMT. The metal fell 1.6 percent in the previous two sessions, after
hitting a five-month high of USD 1,306.20 on Thursday. Bullion has
gained 9 percent this month, after two annual declines, sparking some
profit taking by traders.
News on central bank gold purchases and inflows into the world's top gold-backed exchange-traded fund failed to lend support to the metal on Tuesday. Russia raised its gold reserves for a ninth straight month in December as the country continued to add to the fifth-biggest gold holdings in the world, data from the International Monetary Fund showed on Tuesday. Netherlands and Kazakhstan also added to reserves. SPDR Gold Trust, the top gold ETF , said its holdings rose 0.24 percent to 743.44 tonnes on Monday.
News on central bank gold purchases and inflows into the world's top gold-backed exchange-traded fund failed to lend support to the metal on Tuesday. Russia raised its gold reserves for a ninth straight month in December as the country continued to add to the fifth-biggest gold holdings in the world, data from the International Monetary Fund showed on Tuesday. Netherlands and Kazakhstan also added to reserves. SPDR Gold Trust, the top gold ETF , said its holdings rose 0.24 percent to 743.44 tonnes on Monday.
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