Gold slips from record; ETF holdings lowest since May

Reuters reports that in Singapore gold dropped on Thursday ahead of an expected euro zone interest rate hike, while ETF holdings dropped to their lowest in almost a year.

The market news is quoted as saying,

“Moms and dads are moving out, out of gold and into theequities. But our expectations for gold moving higher has moreto do with inflationary concerns, I think, particularly inChina,” said Jonathan Barratt, managing director of Commodity Broking Services.

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