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February 12, 2009 |
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Commodity Online
SINGAPORE : Gold prices eased in early Asian trade Thursday after posting a record high on Wednesday.
The bullion was seen trading at $936.20 per ounce at 10.00 a.m Singapore time, down 0.2% from New York's notional close on Wednesday.
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Meanwhile, holdings by gold fund SPDR Gold Trust hit a record for the third day in a row, underscoring the metal's attraction as a safe-haven investment.
The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust rose 40.37 tones, or 4.5%, to a record 935.09 tones on Feb. 11. It was the third day of gains in a row.
On Wednesday, gold surged, catching up after disappointed investors sold stocks following the release of a massive US Government bank rescue plan.
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