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Safe-haven bids keep gold price above $1,300

Posted on 24 July 2014

Gold price held steady on Wednesday in Asia after dipping overnight, and looked likely to hold above $1,300 an ounce in the near term as geopolitical tensions from crises in Ukraine and the Gaza strip brought safe-haven bids.
But sluggish physical demand in Asia in the seasonally quiet summer period could weaken support for any price rally and even fail to provide a floor if prices were to decline. Spot gold was little changed at $1,306.61 an ounce by 0627 GMT, after losing 0.4 percent in the previous session, pressured by firmer equities. U.S. gold edged up slightly to $1,308.40………………………………………..Full Article: Source


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