Uncertainties of Europe's economy continue to favor gold

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Source: Bloomberg
© scanpix/reuters
Gold is set to its weekly advance, as investors increased their holdings and central banks boosted their reserves on Eurozone's debt crisis and Merkel's announcement the EU leaders will not agree on the budget deal in the summit. Spot gold was at $ 1,731.50 an ounce, advancing from yesterday's $ 1,729.55. Gold Futures for December added 0.2% to $ 1,731.30 an ounce on the Comex in NY.


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