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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Gold futures rise on demand for store of value; silver advances

Posted on 05 February 2009

From Bloomberg: Gold rose for the first time in three days on demand for the precious metal as a store of value amid global financial turmoil. Silver also gained.

UBS AG said today gold will average $1,000 an ounce this year, up 43 percent from its October forecast. Investment in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, rose to a record 853.4 metric tons on Feb. 2….. Full Article: Source


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