Wednesday, 29 May 2013

Reuters: PRECIOUS-Gold ticks higher as dollar, stocks dip; Fed eyed

Gold rose toward $1,400 an ounce on Wednesday, taking a cue from broad dollar losses and falling stock markets with residual support from Chinese physical buying.

But the root of weakness in wider markets - improved U.S. data suggesting the Federal Reserve might taper its monetary stimulus programme - was also seen as a catalyst to ultimately take bullion prices lower.

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