Arab Today, arab today gold hits twoweek high in asia
Last Updated : GMT 12:04:57
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Gold hits two-week high in Asia

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Arab Today, arab today Gold hits two-week high in Asia

SINGAPORE - QNA

Gold extended gains Tuesday to hit near two weeks high, mainly on lingering Euro zone debt worries while silver remained steady. Gold for immediate delivery was seen trading at $1516.74 an ounce at 12.30pm Singapore time while Silver barely moved at $35.16 an ounce. Meanwhile euro-denominated bullion rose to a record above 1,081 euros an ounce. However, Bullion was still below a lifetime high of $1,575.79 an ounce struck in early May. Holdings of the largest gold-backed exchange traded fund, New York\'s SPDR Gold Trust, rose 0.63%, while that of the largest silver-backed ETF, New York\'s iShares Silver Trust, dropped 0.15% from Friday to Monday. On Monday, Gold futures settled higher, getting some flight-to-safety bids as concerns about euro-zone debt resurfaced and trumped a rising dollar. June gold futures settled up $6.50 at $1,515.40 an ounce, after touching its own near two-week peak at $1,519. Spot silver was last at $35.08 ounce. US silver futures shed 18.30 cents to finish at $34.904 an ounce. A rising dollar and fears the global economy is slowing down weighed on other metals, with the July copper contract /quotes/comstock/21e!f:hgn11 down 3.2% at $3.99 a pound.

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