Precious metal gold trading around $1,133 on Tuesday on account of weak demand from jewellers, investors, retailers and industrials.
SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its holdings stood at 824.54 tonnes, unchanged from the previous business day.
Hedge funds and money managers cut net long positions in COMEX gold for a sixth straight week in the week to December 20. Dealers reduced net longs in bullion by 14,994 contracts, bringing it to 53,911 contracts, a Reuters report said.
Reference: Business News
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