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Gold up in Cyprus row

GOLD prices rose above $1,600/oz (€1,235/oz) for the first time in more than two weeks on the back of the Cypriot bailout savings confiscation proposals.

Gold in euro terms rose 1.7pc in trading yesterday as the euro fell against all currencies.

Silver traded at $28.80/oz (€17.60/oz) while platinum rose to $1,587.25/oz (€1,225/oz).