RTTN: Gold Eases Below $1,350 As Dollar Ticks Higher
(RTTNews) - The price of gold moved below $1,350 Tuesday morning after the U.S. dollar pared losses versus the euro and sterling.
Gold for December delivery, the most actively traded contract, was down $8.40 to $1,346.00 an ounce. Yesterday, gold settled at a fresh record high of $1,354.40 even as the U.S. dollar steadied.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, edged down for a third day to 1,287.33 tons from 1,288.24 tons.
Meanwhile, the U.S. dollar continued to recover from its 8-month low versus the euro and was trading higher against sterling, after an U.S. official warned that excessively easy monetary policy could create big problems going forward. However, the buck was struggling around its 15-year low versus the yen and its record low versus the Swiss Franc.
Elsewhere, the price of silver was leveling-off from its 30-year high, while platinum was ticking lower in morning deals.
