Gold climbed from a one-month low as signs of increased demand spurred traders to close bets on lower prices placed amid expectations the U.S. Federal Reserve may soon begin to scale back stimulus.
In China, the second-largest consumer, volumes for cash gold of 99.99 percent purity on the Shanghai Gold Exchange climbed to a one-month high of 14,888 kilograms (32,822 pounds) on Nov. 11, and were 12,681 kilograms yesterday. The metal fell to $1,261.42 an ounce in London yesterday, the lowest since Oct. 15, after Fed Bank of Atlanta President Dennis Lockhart said a paring of U.S. bond purchases “could very well take place” next month.
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