Gold falls to 2-1/2 week low in thin trade

Tuesday, 22 April 2014 00:23 - - {{hitsCtrl.values.hits}}

REUTERS: Gold fell to a two-and-a-half-week low in choppy and thin holiday trade on Monday, hurt by sharp outflows from the world’s biggest bullion-backed exchange-traded fund (ETF) and a stronger dollar. The metal was also hurt by a spurt of technical selling after it was unable to hold on to the $ 1,300-an-ounce level hit early in the trading session. Spot gold fell to a two-and-a-half-week low of $ 1,281.40, before pruning the losses to trade down 0.6% at $ 1,286.30 by 0641 GMT.

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