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Decision of world major central banks to unlock the credit markets and prevent a global financial meltdown continues to support gold prices.
The U.S. Federal Reserve, the European Central Bank and the central banks of Canada, Britain, Japan and Switzerland said they would lower the cost of existing dollar swap lines by 50 basis points from Dec. 5, and arrange bilateral swaps to provide liquidity for other currencies.
Gold was last at $1,747.20 an ounce (+0.10%), having risen to a session peak of $1,758 earlier, its highest since Nov. 17.
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