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Gold up nearly 2 pct on ETF inflow, tight physical supply

Posted on 13 August 2013

Gold rose nearly 2 percent on Monday, hitting its highest in nearly three weeks as strong Chinese gold consumption and an inflow to gold-backed exchange-traded funds fuelled hopes of resurgent physical and investment buying.
Silver soared more than 4 percent to a near two-month high on gold’s coattails, while recent strong U.S. and Chinese economic activities prompted some investors to buy silver as an industrial play. The yellow metal extended its winning streak to a fourth consecutive session after Chinese trade data showed the country’s gold demand surged year-over-year in the first six months………………………………………..Full Article: Source


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