Gold regains strength, physical buyers scarce

Gold regained strength on Friday after easing in the previous session, but a drop in ETF holdings to their lowest since late January, a firm U.S. dollar and a lacklustre physical market could cap its gains.

Premiums for gold bars were steady in Hong Kong and Singapore, with no signs of buying interest from China after the Lunar New Year celebration. Unrest in Egypt could underpin sentiment, but there was hardly any physical buying in Asia related to the deadly turmoil.

Egypt's people-power protesters, reeling with disillusion and anger after President Hosni Mubarak dashed hopes he would resign, planned massive new demonstrations on Friday that may test the army's loyalties.

Read Full Article from Reuters

- Posted: 2011-02-10 23:06:29

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