RTTN: Gold Steady Above $1,390 After Last Week's Fall
(RTTNews) - The price of gold moved back above $1,390 Monday morning amid a mixed U.S. dollar.
Gold for February delivery, the most actively traded contract, gained $8.50 to $1,393.40 an ounce. Last week, gold advanced to a fresh record intra-day high of $1,432 only to face profit booking and settled lower, losing 1.5% over the week.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were down for a forth straight session to 1,289.83 tons from 1,293.78 tons.
Meanwhile, the U.S. dollar was trading mixed. The greenback was paring previous session's losses versus sterling, while ticking lower against the euro. The buck was moving lower against the Swiss Franc, while trading flat against the yen.
Elsewhere, the prices silver and platinum were moving higher in morning deals. Meanwhile, copper advanced to an all-time high, after China left its key rates unchanged despite a surge in its November inflation.
