Gold, Silver advance further in Asia
Silver, platinum and palladium are also advanced in Asian trade on US Fed chief Ben Bernanke's remarks on monetary stimulus.
Gold advanced in Asian trade Monday from a 5.4 percent weekly gain.
Gold for immediate delivery was seen trading at $1,290.96 an ounce at 12.00 noon Singapore time while US gold was at $1290.11 an ounce on the comex division of nymex.
Silver, platinum and palladium are also advanced in Asian trade on US Fed chief Ben Bernanke's remarks on monetary stimulus.
Bernanke said that a highly accommodating policy was needed for the foreseeable future, bolstering bullion which is often seen as a hedge against inflation.
Prices were also buoyed as Chinese GDP data for the second quarter matched expectations at 7.5 percent.
Meanwhile, holdings in SPDR Gold Trust, the world's largest gold-backed ETF, are near four-year lows. The fund has seen outflows of over 13 million ounces, or about $17 billion at current prices, so far this year.
On Friday, gold ended the week with a 5.4 percent gain, highest in almost two years.
However, the yellow metal dropped Friday from a four day winning streak to close at 1,282.06 an ounce while US gold for August delivery closed at $1,277.60 an ounce.
Sumber : Google
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