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Gold futures gain on stronger oil, weaker dollar

Posted on 2012-11-13, By A-Best Staff

MarketWatch reports gold futures gained more than $11 an ounce as the prices of oil is higher and a weaker US dollar.

Gold for December delivery climbed $11.10, or 1.4%, to close at $816.80 an ounce on the New York Mercantile Exchange. The contract had fallen to a low of $792 an ounce earlier, its lowest intraday level since October.
Mark O’Byrne, a Director at Gold and Silver Investments Ltd says:
“The primary trends in oil and the dollar remain up and down, respectively — which should result in gold being well supported above $750 per ounce.”
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