New York, October 29: Gold today gained as a drop in prices prompted physical buyers to increase purchases of the metal. Palladium climbed to a nine-year high.
The gold gained USD 6.50, or 0.5 per cent to USD 1,349.10 an ounce on the Comex in New York. The metal in London was 0.5 per cent higher at USD 1,350.72.
Gold earlier today declined as the dollar gained against the euro, while holdings in gold-backed exchange-traded products slid for a 10th day yesterday.
Gold, up 23 per cent this year, is heading for a tenth annual gain, the longest winning streak since at least 1920 in London.
Bullion has outperformed global equities, Treasuries and most industrial metals, prompting record investment in gold-backed exchange-traded products.
–Agencies