Gold Has Longest Rally in Five Weeks After Dollar Declines
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Gold futures rose, capping the longest rally in five weeks, as the dollar’s decline boosted demand for the precious metal as an alternative investment.
The dollar fell as much as 1.9 percent against the euro after European Central Bank President Jean-Claude Trichet signaled the bank is willing to raise interest rates to fight inflation. Gold rallied 30 percent in 2010 as the Europe and the U.S. kept borrowing costs low to revive the economy.