Today, Gold went into decline & close to a about six-year low, hurt by a robust USD & upbeat comments by Federal Reserve officials regarding a US rate increase in up-coming month.
Spot gold went down by 0.3 percent to USD 1,074.91 an ounce by 0045 GMT, expanding Friday's 0.4-percent drop. Bullion metal declined to USD 1,064.95 previous week, the lowest since February 2010.
Speculation that the Fed will lift interest rates for the 1st time in nearly a decade current year has intensified since the release of strong US jobs data earlier current month, which activated a sharp drop in prices of gold.
World's top gold-backed exchange-traded fund i.e; SPDR Gold Trust, said that its holdings fell down 0.18 per-cent to 660.75 tonnes on Friday last week, the lowest since September 2008.
Read More : Bullion tips
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