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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold goes under $1,600

Posted on 27 March 2013

Gold futures prices fell below $1,600 a troy ounce Tuesday for the first time since the Cyprus crisis erupted, as worries about the euro-zone member eased and as U.S. data pointed to economic recovery. A report showing increased gold purchases by the world’s central banks in February helped cushion the fall in futures prices.
The most actively traded contract, for April delivery, fell $8.80, or 0.6%, to settle at $1,595.70 a troy ounce on the Comex division of the New York Mercantile Exchange. The thinly traded March contract also ended 0.6% lower, at $1,595.80. This was gold’s first close below $1,600 since March 15, though futures prices had slipped below this psychologically important level in Monday’s trading………………………………………..Full Article: Source


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