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Gold prices rose to two-week
high thanks to the downturn in the Asian stock market, but the
precious metal is still at risk of losing appeal as a safe asset
amid fears of incentive programs to reduce the Fed.
Since the beginning of the year, spot prices have decreased by 16 percent in April after falling to two-year low, due to signs of improvement in the global economy and fears that central banks start tightening policy.
High premiums for bullion in Asia suggests that jewelers and individual investors are willing to buy gold at lower prices. Premiums in Singapore rose to a record $ 7 an ounce to the spot price in London due to insufficient supply.
Gold demand in Asia will be a record in the second quarter, as buyers in the region acquire the metal entering the market as a result of inventory reduction ETFs (ETF), said on Wednesday the World Gold Council.
The cost of the June gold futures on COMEX today rose to 1417.50 dollars an ounce.
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