Gold prices up, still set for biggest weekly fall in 4 months

Mar 21 2014, 18:59 IST
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SummarySpot gold was up 0.7 percent to $1,337.30 an ounce by 1244 GMT.

percent purity gold on the Shanghai Gold Exchange and cash gold discouraged imports.

"Shanghai gold exchange is still at discounts to spot gold, and the market wants to know if the yuan will continue to depreciate," a physical dealer in Hong Kong said.

Gold jewellery exports from India edged up 1 percent in February to $718.36 million from a year earlier, an industry body statement said on Thursday.

In other precious metals, palladium rose 4 percent to $795.00 an ounce, its highest since August 2011, boosted by the launch of two exchange-traded funds in South Africa and increasing sanctions by Western countries on main producer Russia.

Silver rose 0.6 percent to $20.39 an ounce and platinum gained 0.5 percent at $1,435.50 an ounce.

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