Gold Fluctuates Near Three-Week High on Dollar; Silver Advances
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Gold fluctuated near a three-week high in New York as a weaker dollar spurred demand for an alternative investment. Silver rose to a 30-year high, and palladium reached the highest level in nine years.
The U.S. Dollar Index, a six-currency gauge of the greenback’s strength, fell to the lowest level in almost two weeks. Gold futures, which typically move inversely to the dollar, reached a record $1,432.50 an ounce on Dec. 7 and yesterday climbed to all-time highs in euros and British pounds.