Gold May Gain in London as Price Decline Spurs Physical Demand
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Gold may gain in London on speculation lower prices are attracting physical buyers and as investors seek a protection of wealth from Europe’s debt crisis.
The metal has dropped 5 percent since Nov. 8 and fell to $1,667.03 an ounce on Nov. 21, the lowest price in almost four weeks. German Chancellor Angela Merkel said today joint euro bonds would send a “wrong signal,” damping optimism about a potential remedy for the region’s debt crisis.