FX: Gold Rises Above $930 As ETF Holdings Hit New High
NEW YORK -- Gold futures rose Friday for a third straight session to end above $930 an ounce, as investors took cues from strong demand for gold exchange-traded funds which has pushed holdings in the biggest gold ETF to the sixth largest in the world. Holdings in the SPDR Gold Shares (TICKER:GLD) rose to a new record of 1,041.53 tons Thursday, up 3.36 tons from a day ago, according to latest data from the fund. That's higher than the 1,040.1 tons held by Switzerland, the sixth-largest official gold holder, according the World Gold Council. Gold for April delivery, the most active contract, gained $6.10, or 0.7%, to end at $930.10 an ounce on the Comex division of the New York Mercantile Exchange. It climbed to $941.10 earlier. Despite the gain, the metal ended the week down by 1.5%.
