July 27, 2013
Gold edged higher on Friday, staying on track for its third straight weekly gain, helped by a weaker dollar and hopes of a prolonged period of easy monetary policy. Spot gold had climbed 0.1 percent to $1,334.90 an ounce by 0652 GMT, nearly $160 more than the three-year low hit on June 28.
Physical demand in China has been key to supporting gold prices this year amid the exit from ETFs. Data from the Shanghai Gold Exchange shows that physical deliveries have totalled 1,198.4 tonnes so far this year. The exchange delivered 1,140 tonnes in all of 2012. Courtesy:Reuters
Published in ZaraiMedia.com