Gold Climbs on Speculation Central Banks to Spur Growth
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Gold climbed to the highest price in two weeks amid speculation that central banks will take more action to spur growth, boosting demand for the metal as an inflation hedge.
Reports showed yesterday that euro-area manufacturing output contracted for an 11th straight month in June and manufacturing in the U.S. unexpectedly shrank. European Central Bank officials are forecast to cut their main interest rate to an all-time low on July 5, according to the median forecast in a Bloomberg survey of economists.