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Gold slips after 1 percent gain; ETFs at 4-year low

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Reuters SINGAPORE
Last Updated : May 09 2013 | 9:30 AM IST

SINGAPORE (Reuters) - Gold edged down on Thursday, after rising more than 1 percent in the previous session, as speculators booked profits and investors cut their holdings on bullion exchange-traded funds to their lowest since early 2009.

FUNDAMENTALS

* Spot gold fell $2.78 an ounce to $1,469.41 by 0045 GMT, with gains in equities also weighing on prices. Gold hit an intraday high around $1,476 on Wednesday on physical buying and a drop in the dollar against the euro.

* U.S. gold was at $1,468.90 an ounce, down $4.80.

* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.60 percent to 1,051.47 tonnes on Wednesday from 1057.79 tonnes on Tuesday.

* The U.S. Mint will limit dealers' purchases of its "America the Beautiful" five-ounce silver bullion coins when they go on sale next week, reflecting soaring physical demand after a sharp selloff in precious metals.

(Reporting by Lewa Pardomuan; Editing by Himani Sarkar)

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First Published: May 09 2013 | 9:10 AM IST

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