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Gold Futures Rise as Europe-Debt Crisis, Dollar Spur Demand

Gold rose for the third straight day in New York as European-debt concerns mounted and the dollar dropped, spurring demand for a haven.

The dollar fell against a basket of six major currencies before a report due tomorrow that’s expected to show slowing expansion among U.S. businesses. Gold futures reached a record $1,432.50 an ounce on Dec. 7 amid mounting concern Europe’s debt crisis will spread. Gold priced in euros and British pounds climbed to all-time highs today.