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Gold prices rose, rising above $ 1,400 an ounce, which helped comments European Central Bank President Mario Draghi, and the decision to leave interest rates unchanged. The head of the Central Bank said that the inflation rate in the euro zone has been volatile in 2013. He assured that the inflation outlook remains "balanced," noting that the CPI growth risks were associated with higher indirect taxes and the prices of raw materials and downstream risks - with the weakness of economic activity. Despite the fact that the Central Bank is expected gradual recovery in economic activity in the second half of 2013, as evidenced by the growth of economic indicators, there are different factors that will contribute to easing - for example the slow implementation of reforms by national governments, as well as weak domestic demand. Central Bank is ready to support demand through monetary policy, which will remain accommodative until it is needed. Draghi said that the EU should carry out structural reforms to boost competitiveness, employment, and reduce the deficit.
Also worth noting is that the dynamics of trade affected by what many investors are waiting for the publication of data on U.S. non-farm payrolls.
Add that previously precious metal came under pressure against the backdrop that the Government of India, the world's largest gold buyer, has decided to increase the tax on imports of the precious metal in the fight with a record level of current account deficit. So duty on import of gold and platinum was increased from 6% to 8%. According to forecasts of Trade Federation All India Gems & Jewellery, in the current year the volume of gold imports may fall by 20%.
Meanwhile, today it was announced that the gold reserves in the SPDR Gold Trust were unchanged on Wednesday, after falling 0.3% in the previous session, which is a four-year lows.
The cost of the August gold futures on COMEX today rose to 1405.10 dollars an ounce.
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