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China, India demand adds shine to gold

Price up from US$1,182 at end-Dec to US$1,234, but longer-term outlook is lacklustre

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Going for gold: Besides seasonal buying for Chinese New Year, the pick-up in demand in China is due in part to recent weak gold prices. - PHOTO: REUTERS

[SINGAPORE] It was all doom and gloom for gold at the end of 2013, but the new year has put a bounce back in gold prices. Riding on the back of increased physical demand in China ahead of Chinese New Year and news that India may reduce its import duties on the metal later this month, the spot