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Gold rises after biggest weekly slide

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

Bloomberg.com reports gold rebounded after the biggest weekly slide in 25 years.

 The 14-day relative strength index of gold remained below 30 last week, a signal for some traders that the price is headed higher. Before today, gold had fallen 14 percent this month as the dollar rallied 6.2 percent against the euro and crude oil touched $111.34 a barrel, reducing the appeal of the precious metal as an alternative investment.

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