Gold prices flat as US fiscal worries
Agencies: sing, Nov 08 2012, 09:34 IST
of $1,702-$1,734 an ounce during the day, said Reuters market analyst Wang Tao.
Later in the day, investors will await the result of the European Central Bank's policy meeting. The bank is expected to leave interest rates unchanged, even as the latest data showed a slowdown in Germany's manufacturing sector.
The lingering euro zone debt crisis and worries about the U.S. fiscal problems kept investors interested in gold.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose to 1,337.205 tonnes by Nov 7, its second-highest level after the all-time high of 1,340.521 tonnes hit in early October.
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