SINGAPORE, April 22 (Reuters) - Gold edged up on Monday and
held above the psychologically key level of $1,400 an ounce,
although sentiment was shaky after steady outflows from
exchange-traded funds trimmed holdings to their lowest in three
But physical demand was expected to offer support as gold
retailers struggled to cope with a surge in buying interest for
bars, coins, nuggets and jewellery following a recent slump in
* Gold had added $1.49 an ounce to $1,405.34 by 0032
GMT. It fell around 5 percent last week after notching its
biggest-ever daily loss in dollar terms on Monday. The collapse
surprised many veteran investors, who see gold as portfolio
protection against inflation and other market risks.
* U.S. gold for June delivery was at $1,406.70 an
ounce, up $11.10.
* Holdings of the largest gold-backed exchange-traded-fund
(ETF), New York's SPDR Gold Trust GLD, dropped 0.88 percent on
Friday from Thursday, while those of the largest silver-backed
ETF, New York's iShares Silver Trust SLV remained unchanged for
the same period.
* But hedge funds and other big speculators ploughed new
money into gold even after the precious metal posted a record
loss in dollar terms this week, according to trading data on
Friday that also showed inflows for many other commodities
* It is too early for the European Central Bank to judge
whether a further interest rate cut is needed but the impact of
Japan's easing must be closely monitored, ECB Governing Council
member Ewald Nowotny said on Saturday.
* For the top stories on metals and other news, click
* Bulls drove Japanese shares to nearly five-year highs as
yen bears clawed at the symbolic 100 yen/dollar door after the
Group of 20 gathering in Washington all but endorsed the Bank of
Japan's aggressive reflation drive.
* U.S. crude futures extended gains for a second day on
Friday on bargain-hunting, while talk that OPEC could hold an
emergency meeting to tackle the recent sharp price falls
1230 U.S. Chicago Fed National Activity index
1400 Euro zone Consumer confidence
1400 U.S. Existing home sales
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