Physical Buyers Lift Gold

Reuters reported that gold got a boost on Wednesday by an increase in activity from Asian physical buyers, although many investors are still wary after days of wild losses.

As quoted in the market report:

Gold rose 0.7 percent to $1,383.15 an ounce by 0755 EDT (1155 GMT), having tumbled to its lowest since January 2011 at $1,321.35 on Tuesday. The market fell by a combined $225 on Friday and Monday, which compares with a total trading range of $260 in 2012.

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