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Gold prices rose today, helped by first comments Fed Chairman Ben Bernanke. Meanwhile, experts say that from a technical point of view, the situation has changed for the better, and now we can fully consider buying the metal.
Recall that in his speech Bernanke said the U.S. economic recovery is still fragile. In addition, he hinted that the monthly bond purchases by the Fed will not end any time soon. Note that this news is positive for commodities commodity market, including precious metals.
Note also that a small effect on the price of gold have data by the European Union, which were mixed. It is learned that German GDP fell by 0.5% in the fourth quarter last year, while the trade surplus reached a record. Also today, also passed bond auction in Italy and Spain, which was a success, adding a sign that the European investor sentiment towards the EU continues to grow.
February futures price of gold on COMEX today rose to 1682.40 dollars per ounce.
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