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Last Updated : Sep 08, 2015 08:37 AM IST | Source: PTI

Gold holds near two-week low as fund holdings drop 2nd day

The metal slid as much as 0.4 percent after sinking for the third day Friday when data showed the US jobless rate fell to 5.1 percent in August, the lowest since April 2008, adding to the case for the US Federal Reserve to raise interest rates.


Gold held over two-week lows as investors sold metal from exchange-traded products for the second day.

The metal slid as much as 0.4 percent after sinking for the third day Friday when data showed the US jobless rate fell to 5.1 percent in August, the lowest since April 2008, adding to the case for the US Federal Reserve to raise interest rates.

Silver fell 0.1 percent to USD 14.56 an ounce. The Fed will decide whether to raise rates next week.

Meanwhbile, gold has dropped almost 12 percent in the past year on expectations of higher US borrowing costs that would curb the appeal of the metal because it does not pay interest like other assets such as bonds.

Monday is a public holiday in the US.

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First Published on Sep 7, 2015 05:49 pm
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