Gold likely to rule steady as market takes a breather

14/01/2014 08:40 AST

Gold prices are likely to rule steady on the domestic spot and futures market on Tuesday as the market weighs current developments.

Gold gained on Friday following US jobs data that showed employment in December was lower than even pessimistic estimates.

The data triggered some gold purchases by investors who see the US Federal Reserve going slow in paring down its stimulus programme.

While gold holdings in exchange-trade funds remained unchanged with SPDR Trust, the world’s biggest, reporting that its holdings were static at 793.12 tonnes, sales of gold coins in the US the and UK increased.

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