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Gold declined for the first week at the beginning of today's trading, as investors once again interested in risky assets after European leaders agreed to fight with the debt crisis. After the eight-hour negotiations between bankers, heads of state, central bank governors and representatives of the International Monetary Fund, European Union leaders agreed on a plan to combat the debt crisis in the eurozone. With this news the world's stock close to the maximum of two months, the euro reached its highest point since early September.
Stocks ETF-backed by gold funds rose in October to 700,000 ounces, pointing to high investment demand. Physical demand in Asia is also due to strong holiday season and weddings in India - the world's largest consumer of gold.
Gold for December deliveries fell to $ 1.707,2 per troy ounce, but the last few hours rebounded to 1.7345 dollars per ounce in trading in New York.
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