Ripples Advisory Gold Market Live News Update

by - 10:20 am

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 Gold prices edged up in Asian trade on Monday, rising above the lowest level touched in 10-1/2 months the previous week, as the U.S. dollar slipped against a basket of currencies.

              FUNDAMENTALS

* Spot gold edged 0.3 %higher to $1,137.10 an ounce by 0055 GMT. The bullion touched $1,122.35 on Thursday, its weakest since Feb. 2.

* U.S. gold futures gained 0.1 % to $1,139 per ounce.

* Holdings of the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.63 percent to 836.99 tonnes on Friday.

* Hedge funds and money managers cut their net long position in COMEX gold contracts for the fifth straight week, taking it to a 10-month low in the week to Dec. 13, U.S. Commodity Futures Trading Commission data showed on Friday.

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