Gold price rose again after a week of decline caused by the strengthening of the US Dollar on other currencies.
Investors turned to gold as a store of value when Europe failed to reach a deal to release the €44 billion funds that Greece asked to avoid insolvency, despite confidence by German Chancellor Angela Merkel that a solution to the political impasse could be found by Monday.
Fears for a prolonged conflict in the Middle East are also spurring gold price up.
In the meanwhile the International Monetary Fund reported that Brazil raised its gold reserves for the second consecutive month in October by 17.2 tons.
Russia, Kazakhstan and Turkey also increased their holdings.
Germany cut its reserves, first time since June, by 4.2 tons.
Matteo Butera, Rough&Polished
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