Gold Jumps to Six-Week High as Equity Losses Spur Haven Buying
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Gold futures jumped to a six-week high as declines in equity markets revived demand for the metal as a haven. Silver surged more than 5 percent.
More than $100 billion was wiped from the value of world equity markets yesterday, and global shares are falling again today. Gold extended gains as the dollar headed for the biggest drop in a month against a basket of 10 currencies.