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Gold prices rose today , while reaching its highest level in a month , which was due to the depreciation of stocks and uncertainty about growth prospects after a disappointing U.S. employment data , voiced last week. Markets believe that Friday's employment report may prompt the Fed to proceed with caution against narrowing its program of monetary stimulus , which will be a fall stock prices and cheaper dollar.
"The weak dollar and the employment report helped gold rise. In the near future , at least , these rates continue, because they also provide support for the purchase of in China before the New Year by the lunar calendar" - said the managing director GoldSilver Central Pte Ltd in Singapore , Brian Lang .
In addition, the course of today's trades affected data from the Association of Gold China, which showed that in January-November 2013 , China increased its gold production compared with the same period in 2012 to 7.01 % - up to 392.141 tons. Including gold production amounted to 321.115 tons, which is 4.08 % more than in 2012 . In November issue amounted to 44.487 tons of the precious metal . To
China is the largest gold producer in the world - the release of the precious metal in 2012 in the country , according to CGA, amounted to 403.05 tons. Last year, China also took second place for the consumption of gold ( after India ) - 768 tons. During the first 9 months of 2013 , according to the World Gold Council, China's consumption of the precious metal was 797.8 tons , surpassing the same period in India. In addition, previously reported that , perhaps on the basis of China in 2013 overtook Italy and France on gold reserves in foreign exchange reserves , taking third place on this indicator after the U.S. and Germany.
Meanwhile, adding that today the sale of 99.99 fine gold on the Shanghai Gold Exchange rose to 15.73 tons 14.63 tons on Monday, and ">Cost February gold futures on the COMEX today rose to $ 1252.20 per ounce.
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