SINGAPORE : Bullion prices continued to trade higher in Asian trade Friday after broke the $900 an ounce mark overnight.
Spot gold was seen trading at $904.70 per ounce at 10.30 a.m Singapore time from its Thursday’s close of $902 an ounce.
Start trading in commodities from as low as $50. Join now
Meanwhile, holdings of the world's biggest gold-backed exchange-traded fund, SPDR Gold Trust dipped further away from a record high to 1,104.45 tones as of April 23, down 1.53 tones or 0.1 percent from the previous day.
At current levels, gold is down about 10 percent from an 11-month high above $1,000 hit in February.
Prices were supported as physical demand from India, the world's largest consumer, has picked up ahead of the Akshaya Tritya festival on April 27, an auspicious time for gold buying.
Gold rose to a three-week high of $908.70 an ounce on Thursday and was set for its biggest one-week gain in two months.
Bullion's appeal as a safe-haven asset remains intact due to persistent worries about the global economy and financial sector but price gains have capped by signs of slight improvement in corporate and economic activity in the United States and China.
