Spot gold fell USD 2.14 an ounce toUSD 1,428.66 by 0045 GMT. Gold sanka combined USD 225 on April 12 and15 in a sell-off that surprised ardentgold investors and bulls.US gold was at USD 1,428.10 anounce, up USD 4.40.SPDR Gold Trust, the world's largestgold-backed exchange-traded fund,said its holdings fell 0.38 percent to1092.98 tonnes on
Wednesday from1097.19 tonnes on Tuesday. Thecurrent holdings are at multi-yearlows.Barrick Gold Corp, making a painfuladjustment to a sustained slump inbullion prices, reported progress incontrolling costs on Wednesday andsaid it planned further cuts in capitalspending, sending its shares higher.
Gold inched lower on Thursday,hovering below a 1-week high hitearlier this week, as firm equitiessapped interest in the preciousmetal, which has seen steadyoutflows on exchange-traded funds.Gildshrugged off news the RussianFederation raised its gold reserve fora fifth straight month in March andTurkey added to its holdings for afourth month.Billionaire investor John Paulson toldinvestors on Wednesday he is stayingthe course on gold even thoughthere may be more short-termvolatility in the price of the metal. Asian shares edged higher onThursday, supported by views thatthe recent run of weak globaleconomic data will encourage majorcentral banks to keep or deepentheir monetary stimulus to bolstergrowth.US crude futures extended gains fora sixth day on Thursday after rising2.5 percent a day earlier, supportedby a big drop in US gasolineinventories and speculation that aglut of crude at the Cushing,
Oklahoma hub could soon ease.