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HK gold sharply higher

HONG KONG: Hong Kong gold prices closed sharply higher on Tuesday at 303.50-304.50 US dollars an ounce, against Thursday's closing rate of 284.50-285.00.

Dealers said the rise was due to reports that Canadian gold miner Placer Dome said it was suspending its hedging activities.

The market, which was closed on Friday and Monday for the Lunar New Year holidays, opened at 302.00-304.00.ÑAFP