Investing.com - The price of gold slid once again on Thursday, continuing a slump, and posting the lowest settlement price in 10 months.
Gold settled at $1130.30, down 2.87, or 33.39.
The price of sliver, platinum, copper and palldium also settled lower for the day.
Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Shares (HK:2840), are down about 10% from mid-November. Holdings fell again yesterday by 6.8 tonnes.
A global sell-off in ETFs is the result of lack of investor interest in the gold markets. The weak physical markets in China and India are taking away price momentum from the currency.
Indian demand, meantime, has suffered from a liquidity crisis in recent weeks after officials suspended the use of some bank notes.
Chinese traders, moreover, say the government there has limited imports there.
Some traders were arguing earlier this week that the commodity was merely going through a slump that mirrored historical patterns and would recover in price by early next year, at the latest.