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Friday, August 10, 2012

Play with Gold

 Gold inched down on this Friday as the
U.S. dollar rose following the release of weaker economic data
from China, but the metal keep remained on track for a weekly gain,
bolstered by hopes China most likely could move to 
stimulate  growth.
    Gold fell 0.5 percent to $1,608.82 an ounce by 1200
GMT but was still on track for a small weekly gain, having risen
on Thursday on hopes for stimulus measures by China after data
showed unexpectedly slow factory's activity.
    Asian shares and other financial markets weakened on Friday
after China's July trade data fell far short of expectations,
but downbeat Chinese economic figures have kept 
hopes alive that Beijing will do something to bolster growth. 

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