Wednesday, August 8, 2012

The hopes for a third ? round government bond purchases faded away

On Friday last week gold edged up to a 2.5 percent weekly gain and reached its' biggest one week rise in two months. Dealers comment that the higher prices were triggered by some sales in the physical market in Asia. The intention of South Korea to diversify its foreign reserves, led to gold purchase in July of 16 tonnes. The boost of the EU currency from the EU Central Bank also contributed to these new gold heights.

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