Gold (GLD, quote) bounces at the key support level of 1305-1310 as there is talk of major central bank buying today and some oversold conditions.

Image courtesy Bullion Vault: http://www.flickr.com/photos/bullionvault/There is talk that Hong Kong is increasing gold imports this year. We know China is a major force in the gold market, overtaking India as the top importer of gold globally.

 

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