GRABBING GOLD
Rumors of a rising demand for gold in China and the prospect of a new round of quantitative easing all help to push the price of gold higher. Gold has rebounded from the support level at $1160. Three factors support the price rise.
First is the confirmation that China has been buying gold and that it has become easier for people to buy gold. The World Gold Council estimates China produced 313 tons of gold in 2009 but demand is expected to be more than 420 tons.
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