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Gold prices offset the earlier part of the incurred losses due to the increase in the dollar after the promise collapse Iran 's nuclear program in exchange for partial
abolition of international sanctions.
Iran's government has agreed with six world powers on curbing its nuclear program in exchange for a reduction of economic sanctions , the overall benefit of which will be about $ 7 billion in this transaction also received government relief sanctions relating to the supply of oil, cars and precious metals in the six months .
Stocks of the world's largest exchange-traded fund backed by gold (ETF) SPDR Gold Trust on Friday fell by 4.5 tonnes to 852.21 tonnes - the lowest level since February 2009 . Investors fear that the Fed will reduce the amount of bond buying , known as " quantitative easing " , in December , relying on the strong economic performance of the United States.
Traders were also watching the situation in the East China Sea : Japan and the United States condemned China's plans to introduce new rules on the use of airspace over the islands , which are subject to the territorial dispute China and Japan. Increased tension will increase the attractiveness of gold as a safe investment and will increase prices.
The cost of the December gold futures on the COMEX today dropped to $ 1225.70 per ounce , and then rose to $ 1244.40 per ounce.
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