Gold Fluctuates Near Seven-Week High on Libya, Inflation Concern
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Gold fluctuated near a seven-week high in New York as continuing violence in Libya and concern that inflation will accelerate boosted demand for the metal as an alternative investment.
Loyalists of Libyan leader Muammar Qaddafi sought to crush dissent in Tripoli as opponents tightened control of eastern cities and U.S. President Barack Obama called for international pressure on the regime to end its attacks. Bullion traded within 1 percent of its December record as oil prices advanced.