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Gold climbs as buyers chase bullion bars, coins
Wednesday, April 17, 2013 3:14
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SINGAPORE – Cash gold shrugged off weakening U.S. bullion futures and jumped as much as 1 percent on Wednesday as buyers snapped up gold bars, coins and nuggets after prices briefly hit their weakest levels in more than two years in the previous session.
Despite the increase in physical buying, which has led to a shortage of gold bars in Hong Kong and Singapore, bullion may not be out of the woods yet as investors continued to take their holdings off exchange-traded funds.
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