Market Nuggets: Gold Fund Holdings Rise, But Physical Demand Remains Light – Barclays
Thursday August 9, 2012 9:11 AM
By Debbie Carlson of Kitco News;
Thursday August 9, 2012 9:11 AM
QuoteDislikedGold prices are holding above the $1,600 an ounce level as gold exchange-traded fund holdings are edging higher, up 0.6 metric ton Wednesday, but the physical market remains soft, say analysts at Barclays. They say Shanghai Gold Exchange trading volume is falling below the monthly and annual average. “Appetite has also been light in the early stages of the seasonally strong period for demand in India as a weak rupee keeps local prices elevated and concerns over a weak monsoon season continue to mount,” they say.
By Debbie Carlson of Kitco News;
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