Gold, Silver Flows in Market


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Gold prices have at their highest level in nearly two weeks, as investors drew confidence from data showing central banks' purchases of the precious metal in March while brisk demand for gold coins, jewellery and bullion bars in Asia continued.
The most actively traded contract, for June delivery, on Thursday settled up $US38.30, or 2.7 per cent, at $US1,462.00 a troy ounce on the Comex division of the New York Mercantile Exchange.
Robust sales of physical gold and jewellery in Asian trading hubs continued to support gold's rebound off the 26-month settlement low set April 15.
Silver futures also settled higher, taking their cues from gold. Silver for May delivery, the most active contract, rose $US1.307, or 5.7 per cent, to settle at $US24.140 a troy ounce. This was its highest settlement since April 12 and biggest percentage gain since Jan. 3, 2012.
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