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Sugar Rise to Record in Two Decades; Will Gold Decline?

January 19, 2010 at 21:39 by Vladimir Vyun

White sugar price reached to the highest level since 1989 in London as concern about supply deficit forces India and other importers to increase stockpiles. India, the biggest consumer in the world, are going to import at least 7 million tons of sugar this season, third of that number being white, or refined, sugar. Worldwide demand for sugar will exceed supply by 13.5 million metric tons in the 2009–10 season. March delivery for white sugar gained $11.20 (1.5 percent) to $743.90 per ton on the Liffe exchange.

Analysts predict that gold may decline as a stronger dollar eroded appeal of the precious metal as an inflation hedge. The U.S. currency rose 0.8 percent versus the euro today. If the greenback rally continues, gold is going to go down. Immediate delivery for gold was little changed, remaining at $1,133.50 per ounce by 11:12 in New York.

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