Crude oil futures advanced today as growth of US household spending overshadowed
Gold price rose today as central banks and hedge funds boosted their purchases of the precious metal. The International Monetary Fund reported that Mexico, Russia and Turkey expanded their reserves by 44.8 metric tons valued at $2.4 billion in March. Prices for gold rose as Federal Reserve Chairman Ben Bernanke stated that the Fed will continue to stimulate the US economy. The comments weakened the dollar, bolstering raw materials. Many analysts believe that gold would gain next week. Gold spot prices increased by $$4.40 to close at $1,664.00 per ounce today on COMEX.
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