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Despite a significant decline during the greater part of the trading price of gold were able to recover the lost ground, setting all-new high. Also note that today the number of transactions for the purchase reached the highest level in the past three weeks, as there were hopes that the central banks will increase their incentive programs to boost economic growth.
Most analysts expect that prices for precious metals will continue next week. At the same time, the data showed that investors have increased their share of exchange-traded products to the level of 2,585.1 tons, valued at $ 141.5 billion
It is learned that Japan will further expand stimulus and the Federal Reserve said it plans to continue to buy the bonds.
The Bank of Japan will hold its meeting on 30 October, and is expected to consider the issue of improving asset-purchase program to 10 trillion yen ($ 125 billion) to 90 trillion yen. At the same time, the Fed said it will monthly bond purchases at 40 billion dollars, and is likely to keep interest rates near zero until mid-2015. The European Central Bank has stated that he is ready to buy the bonds of indebted countries and China, the sum of which is $ 158 billion
Some investors buy bullion as a hedge against inflation and a weak dollar.
Note also that gold imports by India, which was the largest buyer of last year, dropped to 170 tons in the third quarter from 205 tons a year earlier, while local prices fell by 5.7%, after the establishment of a maximum of 13 September. At the same time, falling gold this month may encourage increased physical demand in Asia. As you know, Indian consumers usually increase purchases before the season of weddings and religious holidays this year.
November futures price of gold on COMEX today rose $3,9 and is now 1716.00 an ounce.
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