Gold Climbs After China Refrains From Boosting Borrowing Costs
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Gold rebounded from the biggest weekly loss in a month after China’s decision to refrain from raising borrowing costs boosted demand for the precious metal. Silver and palladium also climbed.
Last week, commodities dropped on bets that China would increase interest rates over the weekend, damping consumption of raw materials. Gold has climbed 28 percent this year, reaching a record $1,432.50 an ounce on Dec. 7. Copper jumped to a record in London.