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Gold falls to 10-month low on weaker equities

Source : REUTERS
Last Updated: Thu, Apr 04, 2013 04:23 hrs
A salesman arranges a gold necklace inside a gold jewellery showroom in Kochi

Cash gold slipped 1 percent to its weakest in 10 months at $1,541.24 an ounce after a steep decline in equities and a disappointing U.S. private-sector job report prompted investors to cash in bullion to cover losses.

Gold, a traditional safe haven, also failed to capitalise on tensions in the Korean Peninsula, where North Korea has moved what appears to be a mid-range Musudan missile to its east coast, according to South Korea's Yonhap news agency.


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