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Gold rises but outlook clouded by lower investment
Thursday, April 25, 2013 0:20
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LONDON — Gold rose on Wednesday as physical demand encouraged speculative buying after the previous session’s drop, while support also came from weak German economic data, which fuelled prospects the European Central Bank (ECB) could cut interest rates.
Investor confidence is still reeling from gold’s spectacular falls, and outflows from exchange-traded funds (ETFs) show no signs of abating, although demand for gold bars and coins surged after prices plunged to their weakest in more than two years on April 16.
