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Gold sees mild recovery after big sell-off

Posted on 29 November 2012

Gold prices staged a mild rebound Thursday in Asia on relief buying after they were slammed overnight over a host of concerns, disregarding for the moment optimism over the U.S. fiscal-cliff talks that boosted other risk assets.
The yellow metal’s December futures rose $4.50, or 0.3%, to $1,721 an ounce in electronic trading. The mild recovery followed a convergence of technical selling, deflationary concerns and U.S. dollar strength that sank December futures by $25.80 during Wednesday’s regular session on the Comex division of the New York Mercantile Exchange. The contract had slumped as much as $36.80 at one point………………………………………..Full Article: Source


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