Gold bounces from seven-week low in Asia

24 Dec, 2009

Gold edged higher on Wednesday as bargain hunters resurfaced after the price dropped to its weakest in seven weeks the previous day, but a firmer US dollar was likely to cap gains. Gold is about 11 percent below a lifetime high of $1,226.10 struck in early December, mainly driven by a recovery in the dollar as market-friendly US data boosted optimism about the world's largest economy.

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