Commodity Online
SINGAPORE : Bullion prices eased in Asian trade Monday along with oil as dollar recovered against major currencies with traders looking for direction from the currency market.
Spot gold was seen trading at $929.35 per ounce at 11.00 a.m Singapore time, down from New York's notional close of $932.30 an ounce.
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U.S. gold futures for August delivery eased 0.2 percent to $929.5 per ounce at the same time, compared with $931.00 on the COMEX division of the New York Mercantile Exchange.
The dollar was up 0.1 percent against the euro on Monday after easing versus the single currency on Friday. The dollar gained on Thursday following weak U.S. jobs data which dampened hopes that the global economy is poised to recover.
Gold prices fell about 0.7 percent last week, the biggest weekly decline in three weeks, having retreated from a four-month high near $990 hit in early June.
Gold last rose above $1,000 in February and traders said momentum to retest the key level has waned, and risk was now on the downside.
U.S. financial markets were closed on Friday for the Independence Day holiday.
Meanwhile, the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust , said holdings were at 1,120.55 tones as of July 3, unchanged from the previous business day.
