SINGAPORE: Gold gained on Wednesday, June 30 after holdings in the world's largest bullion-backed ETF hit another record as investors sought safety from tumbling stock markets.
Spot gold rose US$4.55 to US$1,242.55 (RM4,063.14) an ounce by 0101 GMT after volatile trade on Tuesday, when it dropped toward US$1,220 before bouncing to around US$1,241. Gold struck a record above US$1,264 an ounce last week.
US gold futures for August delivery were steady at US$1,243.4 an ounce.
The world's largest gold-backed exchange-traded fund, SPDR Gold Trust said its holdings rose to a record 1,320.436 tonnes by June 29 from 1,316.177 tonnes on June 24. ' Reuters
Spot gold rose US$4.55 to US$1,242.55 (RM4,063.14) an ounce by 0101 GMT after volatile trade on Tuesday, when it dropped toward US$1,220 before bouncing to around US$1,241. Gold struck a record above US$1,264 an ounce last week.
US gold futures for August delivery were steady at US$1,243.4 an ounce.
The world's largest gold-backed exchange-traded fund, SPDR Gold Trust said its holdings rose to a record 1,320.436 tonnes by June 29 from 1,316.177 tonnes on June 24. ' Reuters
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