U.S. gold futures for April delivery settled up 10 cents per
ounce at $1,572.40, with trading volume about 30 percent
below its 250-day average.
Gold prices were slightly up as major central banks meeting
due later in the week can continue to support gold with their
loose monetary policy and increase goldís inflation hedge
However the upside was limited as major gold ETFs
continued to decline putting pressure on gold prices.
SPDR Gold commodity tips Trust, the world's largest gold-backed exchangetraded fundís holdings fell 0.05 percent to 1253.28 tonnes on
Monday from 1253.88 tonnes on Friday
Gold prices are expected to go up as expectations for
monetary easing by central banks and uncertainty about the
spending cuts in US can support prices.
Gold in India looks positive for short term as bargain buyers
and weaker rupee can push the prices higher.
Gold for April delivery on the Multi Commodity Exchange
(MCX) was down by 0.24% at INR 29,668/10gms.