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13-May2011

Gold Gets Back On Discount Hunting, Greenback Drop

Yellow metal rates rebounded in the period right after hitting intraday lower levels and completed with reasonable increases on Thursday, as traders turned to base fishing after American dollar corrected their earlier benefits. Issues over worldwide financial rescue too helped the gold rates as trader predicted that China`s continual plan activities to control in inflation could create a downturn in worldwide growth leads.

Gold commodity for June supply obtained $5.40 to stay at $1,506.80 an oz after dealing as higher as $1,506.50 and as lower as $1,477.60 on the Comex section of NYME , while the spot yellow metal rates increased $6 to stay at $1,506.90 an oz.

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