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Asia helps gold regain its luster

Demand rises 1% as Indian and Chinese consumption offsets investment decline

Asian consumers bought more gold as a hedge against weak currencies plaguing the region lately.   © Reuters

TOKYO -- Global demand for gold is recovering, as Asian consumers step up jewelry purchases in hopes of higher prices down the road, and as a hedge against weakening currencies at home.

Demand for the precious metal edged up 1% on the year to about 964.3 tons in the July-September quarter, the World Gold Council said Thursday.

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