Asian Countries Remain Strong Gold Buyers Depsite Elevated Prices

Gold has been trading below 1400 today but the outlook remains bullish. Despite elevated price levels, physical demand in emerging markets has been robust amid worries over inflationary pressures. Moreover, ongoing tensions in the Middle East and North Africa, and sovereign debt problems in the peripheral European countries should be able to push gold to new record highs. Oil prices also eased after rallying strongly yesterday.

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Asian Countries Remain Strong Gold Buyers Depsite Elevated Prices