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Global gold demand dips 10% in Q3

The gold demand stood at 1,104.8 tonnes in the corresponding quarter last year, according to the WGC's 'Q3 2016 Gold Demand Trends' report.

 
 
OPEC agreed to limit its production to a range of 32.5-33.0 million barrels per day (bpd) in talks held on the sidelines of an energy conference in Algeria.
Spot gold dropped 0.2 per cent to $1,334.41 an ounce by 0411 GMT; but was on track for a weekly gain of nearly 2 per cent, the highest since end-July.
 
 
Gold prices stayed firm on Wednesday as stronger physical demand for the precious metal, ahead of India's late-October festival season, offset a firm US dollar.
Dealers were charging up to $2 an ounce over official domestic prices, the first time premiums have been seen since mid-January, said Bachhraj Bamalwa.
Gold fell for a ninth straight session on Friday on a stronger dollar ahead of key US jobs data and the metal was headed for its worst weekly dip in nearly a year.
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