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He acknowledged that government decision-making had slowed down and said often this was on account of hesitation on the part of officials to make critical decisions. Despite noting that a local trader had played a part in the Libor rigging that has rocked confidence in the financial world and saying the actions could undermine the market integrity the regulator issued little more than a ticking off. Gold rose bucking a fall in other commodities after a slide to two-year lows this week lured Asian buyers but sentiment was still severely shaken by the biggest two-day loss in 30 years.

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