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01.12.2011 23:45

Gold is trading in area of reached highs

Decision of world major central banks to unlock the credit markets and prevent a global financial meltdown continues to support gold prices.

The U.S. Federal Reserve, the European Central Bank and the central banks of Canada, Britain, Japan and Switzerland said they would lower the cost of existing dollar swap lines by 50 basis points from Dec. 5, and arrange bilateral swaps to provide liquidity for other currencies.

Gold was last at $1,747.20 an ounce (+0.10%), having risen to a session peak of $1,758 earlier, its highest since Nov. 17. 

01.12.2011 23:14

GBP/USD extends losses

Market focus

  • U.S., Japan may need more tools to shore up banking system - Fed's Rosengren
  • UK must be clear what a no-deal Brexit would mean - Bank of England Governor Carney
  • German output growth remains moderate in June - IHS Markit
  • Eurozone composite PMI hits seven-month in June - IHS Markit
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