Gold rises off 6-month low; China buys after holiday

Feb 18 2013, 22:22 IST
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SummaryGold rose 0.2 pct to $1,611.87 by 1306 GMT, having fallen to $1,598.04 on Friday on heavy technical selling pressure.

a cyclical trough for the world economy.

In other precious metals, spot platinum was up 0.2 percent to $1,680.75 an ounce after declining to a two-week low of $1,668 in the previous session. Palladium was down 0.2 percent at $754.75, well below the $775 hit on Wednesday, its best since September 2011.

Spot silver rose 0.4 percent to $29.95 an ounce, having fallen to a six-week low of $29.65 on Friday.

Silver net long positions on Comex fell by 28.7 million ounces to 242.5 million ounces in the week to Feb. 12, according to the latest Commitment of Traders data.

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