Gold Advances on Demand for Alternative to Gyrating Currencies
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Gold climbed for the third straight day on investor demand for an alternative to gyrating currencies.
The Bank of Japan has been pouring cash into the financial system to stabilize money markets following last week’s earthquake. The yen fell the most in more than two years against the dollar as the Group of Seven nations agreed to intervene jointly in the foreign-exchange market. The dollar headed for a weekly decline against a basket of six major currencies.