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Strong buying by investment funds pushed the price of gold closer to 500 dollars per ounce in London trade -- a level last achieved in December 1987. Gold prices reached 493 dollars at Tuesday's morning fixing on the London Bullion Market. "In the market's current condition 500 dollars now looks within easy reach although a test of the psychological level might be the catalyst for hefty profit taking," said James Moore, an analyst for the specialist website TheBullionDesk.com.
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