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Gold ETF outflows caps the price recovery

The firm US dollar is being defied by gold, which is continuing to trade at around $1,090 per troy ounce. 

China's gold demand seems to be strong and growing up, given Shaghai Gold Exchange's premiums rose to $4-5 per troy ounce, when compared to global market price.

The ETF outflows are ongoing and are currently preventing any recovery of prices, nevertheless. Gold holdings in the ETF's came down by additional 2.9 tons on November 11, 2015, tracked by Bloomberg.

"This puts total outflows since the beginning of the month at a good 31 tons", says Commerzbank in a research note.

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