According to Reuters, this month billion prices has been range bound, undecided between a strong demand on physical gold after the prices dropped down and the uninterested investors moving their money towards equities.
Gold rose to reach $1,475.51 an ounce and stood at $1,471.10 by 0624 GMT, but still lower than its psychological level of $1,500. June U.S. gold declined $3.60 to reach $1,470.10 an ounce.
Singapore, on Thursday, gold overturned early gains in an unpredictable trade. Lacking the push to upsurge further, regardless of a weaker USD as gold holdings in bullion exchange-traded funds cut down to their lowest since early 2009.
In Asia, the physical market varied, with traders in Singapore stating a slowdown in buying interest and those in Hong Kong reporting a lack in the supply of gold bars that retained premiums at multi-month highs.
Wall Street’s extended record run and a rush in Asian shares to a near two-year top is likely to be expected that it will attract investors looking for better returns away from gold, which has slipped 12% so far this year after increasing for the past twelve years.
The US Mint, in the United States, will limit dealers’ buying of its five-ounce silver bullion coins once they go on sale next week, imitating increase in physical demand.