Gold Reaches Three-Week High as Iraq Unrest Boosts Demand
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Gold capped the longest rally in almost four months as intensifying unrest from Iraq to Ukraine increased demand for the precious metal as a haven.
Bullion has climbed 6.1 percent this year partly because of tension in Ukraine, which said today that natural gas supplies had been cut off by Russia amid worsening relations between the two countries. Iraq’s army killed more than 279 fighters from the Islamic State in Iraq and the Levant and destroyed 50 of the group’s vehicles within 24 hours, military spokesman Qassim Ata said yesterday.