Gold Snaps Winning Streak
Gold settles down 1.1% to $2,714.40 an ounce, breaking a string of six straight gains. The decline comes amid profit-taking by traders, but investors are seen as continuing to have a rabid appetite for gold.
During the previous two sessions, the largest physical gold exchange-traded fund, SPDR Gold Trust attracted net positive inflows of approximately $580 million, says Samer Hasn of XS.com. SPDR Gold shares are down 1.3%. Uncertainty about the outcome of next month's U.S. Presidential election is a factor pushing investors to embrace safe haven assets -- as is ongoing war in the Middle East.
Source : Dow Jones Newswires