Gold steady as $ claws back some losses

collected by :kiven Dixter

Gold prices were drop slightly on Monday as the $ clawed back some recent losses & stocks rose, however worries about America inflation saved buyers in the metal. [LONDON] Gold prices were drop slightly on Monday as the $ clawed back some recent losses & stocks rose, however worries about America inflation saved buyers in the metal. Spot gold was drop 0.11 per cent at US$1,346.31 an ounce at 1.30pm EST (1830 GMT). Gold rose 2.4 per cent final 7 days in its biggest every week earn in further than 5 months. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, told its holdings rose 0.39 per cent to 824.54 tonnes on Friday.

Gold average Today: Gold heads drop as $ covers ground

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Gold tumbles, threatening steepest every day down in one 1/2 years as $ gathers steam

as declared in Precious metals lost ground as the $ sprung higher next another every week decline. The ICE $ Index DXY, +0.62% was up 0.5% to 89.607, as the greenback made strides against the euro, pound & yen. A weaker $ could boost commodities priced in dollars, because it makes them cheaper to purchas for holders of other currencies. Gold fell modestly on Monday, albeit in thinner action, as many traders took the day off for the Presidents Day holiday. "Higher interest averages have flowed into a stronger $ that has been negative for gold & Businessmen are lightening up on the gold market," Hug said.