RTTN: Gold Holds Above $1,420 On Safe Haven Appeal
(RTTNews) - The price of gold moved up near $1,430 Monday morning amid a mixed U.S. dollar.
Gold for April delivery, the most actively traded contract, was up $3.50 to $1,425.30 an ounce. Last week, gold advanced to a fresh intraday peak of $1,445 before settling at 1,413 amid escalating tensions in the Middle-East and a massive earth quake in Japan.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, moved down to 1,215.48 tons from 1,217.30 tons.
Meanwhile, the U.S. dollar was paring its recent gains versus the euro, moving back towards its 4-month low, and ticking lower against sterling. The buck was trading flat versus the Swiss franc and the yen.
Earlier, the Bank of Japan announced that it would pump in a record 15 trillion yen into the financial system and double the size of its asset-purchase program to 10 trillion yen to help lift the economy, after a massive earthquake.
Elsewhere, the price of silver continued to hover near its 31-year high, while platinum was ticking lower in morning deals.
