SINGAPORE (Commodity Online) : Gold prices eased in thin Asian trade Monday, after advancing earlier on signs of global economic recovery, as markets reopened after Easter holidays.
Spot gold was seen trading at $1123.68 an ounce at 11.30 a.m Singapore time while US gold futures for June delivery was at $ 1125.15 an ounce at the same time.
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Dealers awaited the release of an ISM survey on the U.S.services sector for March later on Monday, and a policy meeting by the Reserve Bank of Australia on Tuesday, when it is expected to raise rates by 25 basis points to 4.25 percent.
However, platinum and silver rose while palladium remained steady in early trade Monday.
Platinum for immediate delivery jumped 1.3 percent to $1,683.75 an ounce, the highest since Aug. 1, 2008.
Silver for immediate delivery increased 0.3 percent to $17.975 an ounce, while palladium was little changed at $494.88 an ounce at 9:11 a.m. in Singapore
Meanwhile, the euro rose to $1.3523 from $1.3476 at midday trading hours in the U.S. on Friday when it fell about 0.7 percent. A firmer euro lifted the gold price to an intraday high around $1,126 before the buying eventually subsided.
The world's largest gold-backed exchange-traded fund, SPDRGold Trust (GLD), said its holdings stood at 1,129.823 tones as of April 1, unchanged from the previous business day.
