Gold Rises After Chinese Rate Hike

- December 27th, 2010

ABC News reports that Gold for February delivery rose $2.40 to settle at $1,382.90 an ounce.

ABC News reports that Gold for February delivery rose $2.40 to settle at $1,382.90 an ounce.

The market news is quoted as saying:

On Saturday, the Chinese government announced that the benchmark one-year lending rate will climb. Many expected the move could dampen gold prices by easing inflation fears.

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