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Gold today gained, its longest winning streak since August, on signs of increased demand from investors backed by their holdings.
Gold gained 0.1 per cent to $1,720.10 an ounce, the fourth consecutive gain and the longest rally since August 23, while silver fell 0.1 per cent to $31.78 an ounce.
Holdings in exchange-traded products (ETP) backed by bullion rose 0.2 per cent, the most since October 8, to a record 2,591.99 tonnes.
Greek Prime Minister Antonis Samaras got enough support to approve austerity measures needed to unlock bailout funds. All ETFs, or exchange-traded funds, are exchange-traded products.
Prices have advanced 9.9 per cent this year as central banks including the Federal Reserve took steps to shield their economies hurt by Europe’s crisis.
President Barack Obama, elected for a second term, faces the task of reaching a compromise with Congress on lowering the deficit before more than $600 billion in tax increases and spending cuts start in January.
Platinum was down less than 0.1 per cent at $1,542.75 an ounce and palladium dropped 0.4 per cent to $610 an ounce.
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