Gold rises 1 percent on report China to buy IMF gold

- February 26th, 2010

On thursday,Gold rose 1 percent , rebounding from two-week lows and snapping three days of declines as investors scrambled to cover short positions after a report that China will buy IMF-auctioned bullion.
The press release is quoted as saying:
Spot gold, which reflects the price of bullion, was bid at $1,105.55 an ounce by 2:50 p.m. EST […]

On thursday,Gold rose 1 percent , rebounding from two-week lows and snapping three days of declines as investors scrambled to cover short positions after a report that China will buy IMF-auctioned bullion.

The press release is quoted as saying:

Spot gold, which reflects the price of bullion, was bid at $1,105.55 an ounce by 2:50 p.m. EST (1950 GMT), up from $1,097.25 in New York late on Wednesday.

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