Dubai-Mubasher: The gold price inched lower on Monday to continue the downward trend it maintained for seven successive weeks.
China added nearly 14 tonnes of gold to its foreign exchange reserves in October, the slowest pace of purchase since the central bank started reporting its reserves of the precious metal on a monthly basis earlier this year.
Gold reserves rose to 55.38 million ounces in October from 54.93 million in September, according to a data published by the People's Bank of China.
The gold price fell 0.06% or 0.60 cents by 12:00am GMT to reach $1055.60 an ounce.
