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Gold advances as ETP holdings expand to record, dollar declines

Posted on 19 November 2012

Gold gained for the first time in three days, climbing alongside other commodities as the dollar weakened and investors boosted holdings in exchange-traded products to a record.
Spot gold advanced as much as 0.4 percent to $1,721.30 an ounce and traded at $1,720.70 at 9:10 a.m. in Singapore. The metal slumped 1 percent last week as the dollar strengthened for a fourth week against a six-currency basket in the best run since June. Holdings in ETPs backed by bullion rose to 2,603.692 metric tons on Nov. 16, data compiled by Bloomberg show……………………………………….Full Article: Source


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