Friday, January 28, 2005

Gold inches up in Asia

Gold edged up in Asia on Friday due to buying interest at lower levels and looked set to track the fortunes of the US dollar ahead of elections in Iraq and key economic events next week, dealers said.

Fears of escalating violence in Iraq before Sunday's elections, next week's State of the Union address by President George W Bush and the Group of Seven nations' meeting were likely to buoy gold's position as a safe-haven asset, they said.

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Source: Reuters

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