Gold drifted lower for an eighth session out of nine on Tuesday on outflows from exchange-traded funds and as the dollar firmed, putting more pressure on bullion which has already lost nearly a fifth of its value this year.
Silver also dropped, after recovering from Monday’s early dive when it hit 2-1/2-year lows.
* Spot gold had fallen 0.4 percent to USD 1,387.86 an ounce by 0042 GMT. The price rose 2.6 percent on Monday after a seven-session slide — the metal’s longest losing streak since March 2009.
* US gold futures gained 0.2 percent to USD 1,386.60.
* Growing fears the US Federal Reserve could soon halt its bond-buying programme has also trimmed gold’s appeal as an inflation hedge. Read more.. http://tradingtipsfree.wordpress.com/2013/...-holdings-drop/
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