Gold up on short covering as Deutsche Bank concerns ease

Gold rose slightly early Monday on short covering after a volatile session on Friday as concerns about Deutsche Bank's health eased.
         FUNDAMENTALS
* Spot gold edged up 0.3 % to $1,319.40 an ounce by 0151 GMT.

* U.S. gold futures were up 0.4 % at $1,322.30 an ounce.
* Deutsche Bank is throwing its energies into reaching a settlement before next month's presidential election with U.S. authorities demanding a fine of up to $14 billion for mis-selling mortgage-backed securities.

* The absence of top consumer China, where markets are shut from Oct 1-9 for Chinese National Day holidays, is expected to keep trading volumes low.

* Holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund fell 0.13 percent to 947.95 tonnes on Friday.

 

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