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News Watch
- 11/3/2009 1:47:32 PM
By Chip Brian, SmarTrend Analytics Team
11/3/2009-Comex Gold for December delivery is trading at an all-time high Tuesday, up USD $30.80 to $1,084.80 per Troy oz. on the New York Mercantile Exchange following news that India's central bank bought 200 metric tons of the precious metal from the International Monetary Fund.
The previously recorded high for the precious metal was set on October 14th, at $1,072 per Troy oz.
The Reserve Bank of India reportedly bought the bullion for USD$6.7 billion from the 19th of October to the 30th.
The news has sent the Gold Mining industry surging (+6.5%) with shares of Barrick Gold (NYSE:ABX) up 6.7% and Goldcorp (NYSE:GG) up 7.1%.
Contact Chip Brian
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