Gold slips 1%, ETF holdings hit lowest since Sept 2009

Gold dropped 1 percent to a session low of USD 1,460.49 an ounce on Tuesday as holdings on SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, plunged to their lowest since 2009.

April 30, 2013 / 13:03 IST

Gold dropped 1 percent to a session low of USD 1,460.49 an ounce on Tuesday as holdings on SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, plunged to their lowest since 2009.

Daily outflows from exchange-traded funds highlighted investors' lack of confidence in the precious metal after prices sank to around $1,321 on April 16, their lowest in more than two years, in a brutal sell-off that stunned investors.

first published: Apr 30, 2013 11:58 am

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