Gold fell for a fourth straight day on Tuesday, putting the metal on track for its first monthly drop since August, as selling in gold exchange traded funds (ETF) further undermined investor demand for bullion. Investor sentiment towards gold has soured in the last few sessions. On January 24, the SPDR Gold Trust, the world's biggest gold ETF, saw its largest one-day outflow in three months, when holdings fell 10.926 tonnes to 1,260.843 tonnes.
The fund's holdings are down about 20 tonnes in January. Spot gold fell 0.1 percent to $1,333.78 an ounce at 3:52 pm EST (2052 GMT). Early in the session, it hit a three-month low at $1,322.70. US gold futures for February delivery settled down $12.2 at $1,332.30.
US COMEX gold futures volume totalled about 265,000 lots, about two-third above its 30-day average and in line with recent higher volume, preliminary Reuters data showed. Spot silver fell 0.5 percent to $26.79 an ounce, having earlier fallen to $26.54, its lowest in nearly two months. Platinum fell for a second day, down 1.8 percent to $1,779.99 an ounce, while palladium fell 3.7 percent to $779.97, set for its biggest daily fall since mid-November.
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