Precious metals news /Tips 3 jan

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• Gold futures for February delivery advanced 0.2% to $1,569.70 an ounce in New York on Monday, after reports that Iran produced its first nuclear fuel rod, spurring investors to buy the precious metal as a haven
• Gold imports by India, the world's top consumer, plunged 56% to 125 tonnes in the fourth quarter, cutting full-year imports by 8.4%
• Ethiopia’s National Mining Corporation has discovered 550,000 kg gold reserve at Dawa Okote in Oromia Regional State worth almost $5 billion
• Rio Tinto has received in-principle approval from India’s Union Ministry of Mines to begin diamond mining operations in Madhya Pradesh
• According to PwC’s annual Gold Price Report, the majority of respondents expect gold to peak at $2,000 in 2012