Gold rose to its highest in a month as the US dollar took a breather from a recent rally and the euro gained on talk about a quick bailout.
Spot gold hit an intraday high of $1,130.65 an ounce and was quoted at $1,123.65, up $6.05 from New York's notional close on Friday. US gold futures for April delivery added $9.0 an ounce to $1,131.1 an ounce on Friday.
The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings stood at 1,107.60 tonnes as of February 19, down 1.83 tonnes from the previous business day.
Noncommercial net long gold futures positions rose to 188,858 contracts in the week ended February 16 from 181,519 contracts a week earlier, according to the weekly Commitments of Traders report published by the Commodity Futures Trading Commission. It was the first increase in a month.
Source BloombergUTV
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