Gold Fluctuates Near 4-Week High on Inflation, Rate Concerns
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Gold fluctuated in New York after reaching a four-week high as investors weighed concerns that China will move to cool its economy as global inflation accelerates.
China’s consumer prices increased to 4.9 percent in January, exceeding the government’s target for a fourth month, while U.K. inflation accelerated to the fastest pace in more than two years, data showed yesterday. China’s interest-rate swaps rose for a second day on speculation the central bank will tighten monetary policy further. Protests in Yemen continued and there were reports that unrest spread to Libya.