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Wednesday, December 2, 2009

China Diversifying Reserves by Snapping Up Gold

Gold's successive run-ups to record highs are underpinned by hopes for central banks to further diversify reserves, particularly China's, a topic set to dominate a two-day industry gathering in Shanghai from Thursday.

* Safe-haven appeal overrides investor caution on gold rise
* Expectations for more central bank buying keep support firm
* Weak dollar puts China in quandary over beefing up gold buy
* China's physical demand and consumption seen rising
Reuters

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