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Gold prices stable amid rising dollar to four-year high and outflows of funds backed by gold.
The world's largest reserves of the gold-traded exchange-traded fund SPDR Gold Trust on Tuesday fell 0.12 percent to 724.46 tons of six-year low.
"I see no reason for the growth of gold at the rise of the dollar and the stock price and given the impending rise in interest rates. The gold market is now heavily dependent on the appreciation of the yen against the dollar and the decline should resume soon," - said the precious metals trader in Hong Kong.
On the Shanghai Gold Exchange Wednesday precious metal is trading at $ 02.03 an ounce more expensive than the global benchmark, whereas last week the gold in China is mainly offered at a discount to the standard.
South african producer of gold AngloGold Ashanti plans to cut some employees counting reduce costs.
The cost of December gold futures on the COMEX today is trading in the range 1159.60 - 1169.40 dollars per ounce.
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