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Russia Mulls Eliminating Gold Tax to Boost Investment Demand


by Ed Steer
Gold Seek

The gold price crawled quietly lower starting shortly after trading began at 6:00 p.m. EST in New York on Thursday evening — and the low of the day was set shortly after 3 p.m. China Standard Time on their Friday afternoon. It began to edge higher from there, with the high tick of the day…such as it was…coming at 1 p.m. in New York. It was sold a dollar and change lower by the 1:30 p.m. EST COMEX close — and didn’t do much after that.

Once again, the low and high ticks aren’t worth looking up.

Gold was closed on Friday in New York at $1,314.00 spot, up $4.20 on the day. Net volume was fumes and vapours once again at a bit over 125,000 contracts — and there was around 11,200 contracts worth of roll-over/switch volume on top of that.

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