RTTN: Gold Hovers Around $1,230 Amid A Mixed Dollar
(RTTNews) - The price of gold was steady around $1,230 Monday morning amid a mixed dollar.
Gold for December delivery, the most actively traded contract, edged up $0.10 to $1,228.90 an ounce. Last week, gold advanced $12 after the weekly jobless claims in the U.S. rose and manufacturing activity in the Philadelphia region shrank unexpectedly, which have raised concerns over the nation's economic situation.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,299.47 tons after adding nearly 13 tons in the previous three sessions.
Meanwhile, the U.S. dollar was hovering around its highest level in a month against the euro and was trading flat versus sterling. The buck was lingering around its lowest level since 1995 versus the yen.
Elsewhere, the price of silver edged up and platinum ticked lower in morning deals.
With a light economic calendar, traders will look to the movements in the currency markets to get clues.
