Gold was little changed in Asia on Tuesday amid uncertainty over the impact of possible sales of the precious metal by the International Monetary Fund (IMF). | |
| The gold for immediate delivery fell 70 cents, or 0.1 per cent to $922.80 an ounce while silver added 0.2 per cent to $17.52 an ounce at 2:49 pm Singapore time. |
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| Group of seven officials, who met in Tokyo at the weekend, said they supported sales of gold from IMF reserves as part of its budget reforms. IMF is the third-largest holder of gold reserves behind the US and Germany. |
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| IMF has 3,217 tonnes of gold in reserves, according to the World Gold Council. |
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| The IMF news ``had a mild tempering influence on the gold price,'' David Moore, commodity strategist at Commonwealth Bank of Australia in Sydney, said in a report on Tuesday. |
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