Gold bounces off after decline to lowest level in seven weeks

Source: Bloomberg
© Scanpix/Agence France-Presse
Gold halted its declines for two straight days, after the prices reached the lowest level in seven weeks, encouraging investors to buy the bullion on signs of increasing physical demand in China. Gold for immediate delivery gained 0.4% to $1,284.58 an ounce and was at 1,284.23 as of 2:48 p.m. Singapore time. Bullion for June delivery advanced 0.4% to $1,284.50 an ounce in New York.
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