RTTN: Gold Lingers Around 6-week Low Amid Lack Of Triggers
(RTTNews) - The price of gold was little changed Friday morning as traders await fresh clues even as the yellow metal was lingering around its 6-week low.
Gold for August delivery edged up $1.30 to $1,197.40 an ounce. Analysts expect that physical demand to prevent gold falling below $1,150 an ounce in the near term.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, eased further to 1,316.04 tons from 1,316.48 tons.
Meanwhile, the U.S. dollar was lingering near its 2-month low versus the euro and trading weak against the British pound, and the yen.
Elsewhere, the price of silver was trading flat and platinum ticked higher in morning deals.
With a light economic calendar, traders will look to the movements in currency markets to get clues during the day.
