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Gold prices today rose by one percent, while offsetting losses last week, which was due to an increase in risk appetite, as the dollar fell. Also affects the price of the precious metal in the Middle East, and the outcome of negotiations to settle the inevitable financial crisis in the United States.
The dollar index fell from a two-month high, while making products that are priced in dollars more affordable for buyers.
World stock markets and commodity markets rose today, recovering some of its sharp losses last week, as there were signs of progress in the negotiations for "fiscal cliff." However, some analysts say that the rise in prices has affected the situation in the Gaza Strip.
Now the attention of the gold market is largely concentrated in the negotiations on the budget between U.S. President Barack Obama and congressional leaders.
Note that in the case of unsuccessful negotiations gold will be the "safe haven" for investors, while success in the prevention of financial distress may reduce the attractiveness of gold.
Also, the data showed that the largest reserves of gold in exchange-traded fund SPDR Gold Trust GLD rose by 0.22% on Friday from Thursday. At the same time, it became known that the speculators in the United States have reduced their number of "long position" in gold for the week ended Nov. 13, the lowest level in about three months.
December futures price of gold on COMEX today rose to 1733.40 dollars per ounce.
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