Gold Climbs to One-Week High as Draghi Sees Weakness
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Gold jumped the most in more than two months after European Central Bank President Mario Draghi said economic weakness in the region will continue, boosting speculation that policy makers will do more to revive growth.
“The economic weakness in the euro area is expected to extend into 2013,” Draghi said at a press conference in Frankfurt today. The metal climbed 7 percent last year, a 12th straight gain, as central banks in Europe, the U.S. and China increased stimulus measures to boost economies.