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Wednesday, August 3, 2011

Japan Gold Price Rose

The retail price at a major gold ingot dealer rose 86 yen to 4,341 yen per gram in morning trading, its highest level since 1982.

The gold futures contract for June 2012 on the Tokyo Commodity Exchange briefly climbed 73 yen to 4,118 yen. Concerns over the European and U.S. government debt crises as well as growing fears over an economic slowdown in the U.S. prompted investors to put money in gold as a hard asset.

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