Gold dropped slightly on Thursday to track a weaker euro, but strong investment demand was likely to support prices, with ETF holdings hitting another record as fears about a worsening global recession lingered.
The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said it held arecord 805.96 tonnes of gold as of Jan. 21, up 3.06 tonnes from802.90 tonnes on Jan. 20.
Gold was trading at $852.15 an ounce, down $1.90 from New York's notional close on Wednesday, but was within sight of a two-week high of $865.80 hit on Tuesday.
