Monday, 4 April 2011
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Gold firms as US dollar retreats, oil climbs
LONDON - Gold rose back above $US1,430 an ounce in Europe as oil prices climbed and the dollar eased, and as traders anticipate a rate hike from the European Central Bank may lead to further weakness in the US unit. Rising interest rates are generally negative for gold, as they raise the opportunity cost of holding non-yielding assets, but real rates are expected to remain depressed by rising
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