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Gold prices rise as the euro rose against the dollar, but growth is constrained by concerns that the policy will not be able to cope with the debt crisis in the eurozone. At the same time, gold may go down in value in the fourth quarter for the first time in three years, since the dollar is rising against the euro against the debt crisis in the eurozone.
Eurozone ministers on Monday agreed to increase IMF resources to 150 billion euros, but because Britain refused to participate in this, it remains unclear whether the euro area to get the required 200 billion euros. Support the market today has had a sharp decline in short-term government bond yields in Spain, along with good statistics in Germany at the height of the crisis in the region.
Today, December gold futures trading at the New York Stock Exchange on the Comex rose to 1615.00 dollars per troy ounce.
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