10
January
Gold at five-week low, in correction's grip (GoldCore in DJ Marketwatch)
10 January 2011 MarketWatch
Gold futures ended a roller-coaster Friday in the red, battling a rising dollar but supported by heightened buying interest after the week’s price correction.
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Asian buyers are paying premiums for gold bars, and the Chinese New Year, a traditional time to buy gold, is likely to keep demand up, analysts at GoldCore said.
Jewelers and bullion dealers “continue to stock up to cater for the growing demand of some 1.3 billion Chinese people. This year inflation has taken off in China and inflation concerns may lead to record demand again this year,” they said.
