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Gold Runs Back Toward $1,000 an Ounce

Wall Street Journal Original article ›

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Gold reaches $983 a troy ounce, nearing its all time high of $1003 of March 2008. Russia, China, Venezuela and other countries which have large dollar reserves are building up their gold holdings to reduce the risk of holding masssive dollar reserves which are going down in value. Investors are also buying up gold as a global liquidity cycle is taking hold, with the liquidity pumped in by the Federal Reserve to fight the credit freeze.

Decline in the price of gold in 2013 as central banks in emerging markets cut back on gold purchases

04/06/2009

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