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Gold prices show moderate growth while high housing market and the U.S. labor market strengthened fears that the Fed will soon begin reducing incentives.
The number of permits for the construction of residential homes in the U.S. rose to almost 5.5 -year high in October, while home prices have risen markedly in September.
Today's U.S. Labor Department report showed that the number of people who filed for unemployment benefits , have fallen again last week, recorded six drop in seven weeks , providing more evidence that the job market is steadily improving. According to the report , the seasonally adjusted number of initial claims for unemployment benefits fell for the week ending November 23 to 10 thousand - to the level of 316 thousand Economists predicted that the value of this indicator will increase 331 thousand
According to many economists, the central bank will start buying bonds reduction program no earlier than March 2014 , but some traders fear that the reduction will begin in December .
From the beginning, gold fell by more than 25 percent , as investors prefer higher yielding stocks.
China in October increased gold imports from Hong Kong to seven-month high , as banks and retailers are preparing for increased demand on the eve of Chinese New Year, which is celebrated at the end of January. This year, China is likely to become the world's largest consumer of gold , because the Indian authorities have taken measures to curb imports.
The high demand for precious metals in China says 92 percent rise in net profit of the largest in the world by market value jewelry retailer Chow Tai Fook Jewellery Group Ltd for the six months to September.
The cost of the December gold futures on the COMEX today rose to $ 1254.80 per ounce.
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