Briefs
Gold retains sharp losses, trades near 4-week low
By A. Ananthalakshmi
Spot gold had ticked up slightly to $1,308.90 an ounce by 0637 GMT, after sliding more than 2 percent on Monday – its biggest daily drop since December. Gold touched a low of $1,302.90 in the previous session, its weakest since June 19.
Asian shares rose on Tuesday after Citigroup's earnings and a fresh round of merger and acquisition activity in the U.S. healthcare industry lifted global share prices.
"What is worrying is that even with the $30 price drop, there seems to be no real increase in physical buying. That could also add pressure to prices."
Meanwhile, SPDR Gold Trust – the world's largest gold-backed exchange-traded fund – said its holdings rose 8.68 tonnes to 808.73 tonnes on Monday.