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February 16, 2009 |
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Commodity Online
SINGAPORE : Gold prices eased in early Asian trade Monday and fell below $940 an ounce.
Gold was trading at $937.70 per ounce at 10.00 a.m Singapore time, down 0.2% from New York's notional close on Friday.
However, gold’s allure as a safe-have asset remains intact as uncertainty continues to cloud the global economic outlook.
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The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust said holdings hit a record 985.86 tones as of February 13, up 15.29 tones or 1.6% from the previous day.
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