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News // Metal market

Gold Futures Rose on Weaker Dollar

28 August 2008 , 10:231113
Gold futures rose Thursday as the US dollar retreated.

Gold for December delivery broke through the $840 barrier in electronic trading, but closed at $834 an ounce, up $5.90 on the day, as the dollar fell 0.1% against a representative basket of currencies. The rising price of oil also boosted the yellow metal’s appeal as a hedge against inflation.

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