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Monday, January 31, 2011

Premiums for gold bars at highest since 2004

Premiums for gold bars rose to their highest level since at least seven years in Hong Kong on tight supply, short covering ahead of the Lunar New Year and unrest in Egypt.

Gold bars were offered at a premium of $4 an ounce to the spot London prices, its highest level since Reuters began compiling the data in 2004. The premium stood at $3 last week.

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