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Feb. 3--SINGAPORE -- Gold held near its highest level in 25 years yesterday, but gains were capped by sales of scraps and gold bars in Thailand and Indonesia.
Spot gold rose to as high as US$571.25 an ounce before retreating to close at $570.60/571.50 an ounce, higher than $569.40/570.30 late in New York on Wednesday but below Tuesday's 25-year high of $572.20.
Some dealers said $567.50 provided support but gold may find trouble trading beyond $571, despite a rebound in Japanese futures, mainly because of steady sales in the physical side.
The benchmark December contract on the Tokyo Commodity Exchange rose 30 yen per gramme to 2,222 yen, having ...