Gold Prices Gain in New York on Climbing Demand for Bars, Coins
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Gold rose in New York as this month’s price drop stoked demand from individual investors for bars and U.S. Mint coins.
Australia’s Perth Mint reported stronger demand as prices fell below $1,400 an ounce, Barclays Capital analyst Suki Cooper said in an e-mail today. Bar premiums reached two-year highs before the Chinese New Year, Cooper said, citing the mint. It produces about 6 percent of the world’s gold bullion.