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

Yellow metal to shine bright

Posted on 26 January 2009

From Business-standard.com: Gold may advance further this week on increased demand from investors for the metal as a safe bet in the face of a deteriorating world economy and declining investors’ risk appetite for other asset classes.

In dollar terms, however, the yellow metal is likely to remain bullish to $940 an oz because of uncertainty regarding dollar and strong support in precious metals through exchange-traded fund (ETF). For example, gold holding in the SPDR Gold Trust, world’s largest gold-backed ETF, rose 1.6 per cent on Friday to 819.11 tonnes, equal to about four months of global mine production….. Full Article: Source


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VRS - who has written 36151 posts on Opalesque Commodities Briefing.


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