Gold Rebounds as Investment Demand Gains on Dollar’s Drop
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Gold futures rebounded from the biggest weekly drop in five months as the dollar’s decline boosted the appeal of the metal as an alternative investment.
The greenback weakened to a six-week low against the euro after Greece offered to buy back bonds. China’s manufacturing index rose to a seven-month high, data showed on Dec. 1. Precious metals and energy will lead commodities higher in the next 12 months, Goldman Sachs Group Inc. said in a report dated Nov. 30.