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Gold prices are rising as the dollar's decline and increased demand in the physical market .
In February gold passed the psychologically important level of $ 1,300 , and on Tuesday the price rose to a maximum of 3.5 months $ 1.332,10 .
Recent data from the U.S. Labor Department showed that the number of applications for unemployment benefits fell slightly last week , which is another sign of improvement in the labor market. According to the report , the seasonally adjusted number of initial claims for unemployment benefits fell for the week ending February 15 , 3 thousand , reaching at this level of 336 thousand last value was slightly higher than predicted by experts - at the level of 335 thousand , but still was lower than average at around 344 thousand for the whole of last year .
Dealers expect jewelers will buy gold in times of price reduction , and high import duty on gold in India encourages its smuggling . Margins on gold bars in Singapore remained at last week's $ 1.20-1.50 per ounce to the spot price in London and dealers noted buying in Indonesia and sale of scrap gold in Thailand. Margins on gold bars in Hong Kong are held in the range of $ 1.30-1.50 to the price in London.
The cost of the April gold futures on the COMEX today rose to $1318.00 per ounce.
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