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Gold prices fell slightly today, after significant growth over the past three days amid expectations that the central banks of Europe and the United States will start from a set of incentives to help strengthen their economic condition.
The debt crisis is increasingly threatening the economy as a unit, and may encourage the ECB to start a new round of its program to buy bonds in the near future. This will lead to the fact that gold will act as a hedge against inflation.
Also, the price of gold has influenced the information that the rating agency Standard & Poor's revised its outlook on Greece, stating that you may need further assistance from international lenders.
But despite the decline during the first half of the day, gold prices could recover from, updating the intraday high. At this growth influenced the weak data on industrial production in Germany, which were far below expectations.
The cost of the August gold futures on the COMEX today declined to 1603 dollars per ounce, then rose and is now trading at around 1612 dollars per ounce.
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