SINGAPORE : Bullion prices eased marginally in Asian trade Monday as the dollar edged higher against major currencies.
The bullion was seen trading at $933.70 per ounce at 11.00 a.m Singapore time compared with New York's notional close of $933.80 an ounce.
The dollar edged up against the euro on Monday, but the U.S. currency may not find a clear direction until the result of the U.S. Fed's policy-setting meeting later this week.
Gold was also hurt by last week’s U.S. consumer and producer prices reports that dampened bullion's appeal as a hedge against inflation.
Gold fell $4, or 0.4 percent, last week, marking the third straight week of losses.
Meanwhile, U.S. gold futures for August delivery also edged down to $934.30 per ounce, down 0.2 percent from Friday's settlement on the COMEX division of the New York Mercantile Exchange.
Noncommercial net long U.S. gold futures positions fell 7.5 percent to 175,543 lots in the week to June 16 from 189,674 lots, a weekly report by the U.S. Commodity Futures Trading Commission showed.
However, the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust , said its holdings stood at 1,132.15 tones as of June 18, unchanged since June 5.
