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COMEX Gold sees mixed action
(09:23, 30 Mar 2020)
Gold fell on continued retail demand worries after surging near two week high of around $1700 per ounce. COMEX Gold futures ended the week around $1630 per ounce. Gold plays a prominent role in reserve asset management, being one of the few assets that is universally permitted by the investment guidelines of the world's central banks, the World Gold Council (WGC) stated today in an update. This is in part due to the gold market being deep and liquid - a key requirement of reserve asset managers. Central banks may base their investment strategy on numerous factors, but the primary reasons for recent gold buying are: heightened economic and political risks, low and negative interest rates, and allocation rebalancing, WGC noted.

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