Gold Futures Have Longest Rally in Six Months on Libyan Turmoil
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Gold futures rose, capping the longest rally in six months, as mounting tensions in Libya and the Middle East boosted demand for an investment haven. Silver climbed to the highest settlement price since 1980.
Libyan leader Muammar Qaddafi has vowed to fight a growing rebellion until his “last drop of blood.” Gold climbed for the seventh straight session, the longest advance since early August. The price reached $1,417.30, a seven-week high. The metal climbed to a record of $1,432.50 on Dec. 7. Crude oil in New York climbed to $100 a barrel on Mideast supply concerns.