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Rising Demand Boosts Gold & Cattle Prices

November 27, 2013 at 3:16 by Vladimir Vyun

Gold rose a little today as low prices attracted traders. Gains were limited as the metal was still under pressure from speculations about stimulus tampering from the Federal Reserve. Most fundamental reports from the United States, especially housing data, were rather good, fueling talks about tampering in December (Dectaper). February futures for delivery of gold rose $2.8 (0.23 percent) to $1,244.3 per troy ounce as of 3:07 GMT on COMEX today.

Cattle future advanced today on signs of increasing demand for US meat. The US Department of Agriculture reported that beef processors slaughtered 249,000 animals this week. This 3.8 percent more than both a month and a year ago. February contract for cattle gained $0.0015 (0.11 percent) to $1.3318 per pound on CME today. Prices for wholesale beef went up 1.2 percent at the start of this week.

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