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Gold Climbs as Physical Buying Counters Lower Investment Demand
Gold advanced on speculation that prices near a four-year low spurred physical purchases even as investment demand waned. Silver, platinum and palladium rose. Gold for immediate delivery increased as much as 0.5 percent to $1,157.30 an ounce, and was at $1,156.91 at 9:20 a.m. in Singapore, according to Bloomberg generic pricing. The metal fell yesterday to $1,147.46 and dropped to $1,132.16 on Nov. 7, the lowest level since April 2010. Spot gold in Shanghai yesterday traded at the biggest premium to London prices in five weeks, Bloomberg calculations show. In Singapore, the kilobar contract expiring today settled ... (full story)
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