Commodities
Gold-backed fund holdings rise for a fifth straight week
NEW YORK — by Sofia Renard ·
Holdings rose by an illustrative eleven tonnes over the week, the fifth consecutive weekly build in this dataset.
Spot gold was quoted at 3,421.60 dollars an ounce, up 0.36 percent on the session.
Analysts note that accumulation during sideways price action typically indicates that the consolidation is being absorbed rather than distributed.
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