Gold rises on Greek austerity bill, off 2-week low
2/13/2012 12:02:43 PM
SINGAPORE: Gold strengthened on Monday in line with gains in shares and the euro after Greece's parliament finally approved a deeply unpopular austerity bill to secure a second bailout from the European Union and the IMF to avoid bankruptcy.
Physical buying from China also helped lift gold up$6.10 an ounce to $1,725.49 by 0236 GMT. Bullion fell to $1,703.69 on Friday, its lowest since late January, as uncertainty over negotiations for Greece's bailout package prompted investors to cash in.
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