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Gold futures inched higher on Tuesday, getting some help as the U.S. dollar

Published on: 16th

Park Avenue Numismatics, Miami Beach, FL – October 16, 2012 – Gold futures opened higher on Tuesday, getting some help as the U.S. dollar fell on news of potential progress for a Spain bailout. Gold for December rose $4.50 to trade at $1,742.20 an ounce.The euro rose to $1.3044 against the dollar after news reports announced Spain was contemplating applying for a credit line from the European Union’s bailout fund. Weakness in the U.S dollar typically helps such commodities such as precious metals because it makes them cheaper for holders of other currencies.

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