Gold Is Seen Advancing as Weaker Dollar Spurs Investment
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Gold futures declined the most in a week amid concern that demand for bullion has declined from China, the world’s largest buyer after India.
Banks extended 623.2 billion yuan ($99.5 billion) of local-currency loans last month, the People’s Bank of China said on its website today, below the median estimate in a Bloomberg survey of analysts. Gold imports from Hong Kong fell 29 percent in August from July amid a seasonal slowdown and as higher prices deterred buyers, data from the Census and Statistics Department of the Hong Kong government show.