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Commodities Briefing - Categorized | Bullion/Gold, Trends more

Is gold back? - More upside seen as it probes $1720

Posted on 27 October 2011

With Europe teetering on a knife edge gold has once again resumed its role as the custodian of safe - and perhaps sane wealth. Gold prices firmed throughout late New York trading yesterday where it breached the $1700 level. The firm tone prevailed during Asian trading hours this morning, when gold traded to a high of around $1720 before easing slightly.
Behind the move higher has been a surge in purchases of gold ETFs as well as ongoing strong demand for physical bars. The ETFs have seen 16.5 tonnes of new gold buying over the last 2 days which is driving the price upwards………………………………………..Full Article: Source


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This post was written by:

VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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