Afshin Nabavi News
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Gold declined in London, extending a weekly drop, as a stronger dollar curbed demand for the metal as an alternative investment. Palladium headed for a weekly gain.
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Gold futures rose, capping the biggest weekly gain in two months, as demand improves for the metal as an inflation hedge, including by retail buyers of coins, bars and jewelry.
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Gold fell for a second day in London as the euro’s decline curbed demand for precious metals as an alternative to currencies. Silver retreated 1.6 percent.
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Gold futures fell from a one-week high amid concern that demand is easing while global economic growth slows. Platinum closed at a three-month high.
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Gold may fall for a third day in New York as reports that France and Germany are nearing an accord to boost the size of Europe’s rescue fund curbs demand for the metal as a protection of wealth.
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Gold, little changed in New York today, may fall for a third day as some investors sell the metal to lock in gains after a rally.
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Gold may decline in New York on sales by some investors after the precious metal climbed near a record over concerns that Europe’s debt crisis will sap the region’s economic recovery and weaken its 16-nation currency.
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Gold rose to a record for the eighth time in two weeks as the dollar dropped to the lowest level since early February, boosting investor demand. Silver extended gains, reaching the highest price since 1980.
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Gold rose to a four-week high in London as a weaker dollar increased the metal’s appeal as an alternative asset.
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Gold fluctuated near a record in London on concern that the metal’s advance as an alternative investment to a weakening dollar may have been overdone.
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