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Silver, Gold Advance as Investors Return After Commodity Rout

Silver futures rebounded from the biggest weekly slump since at least 1975 and gold gained on renewed demand for precious metals as alternative assets.

The Standard & Poor’s GSCI Index of 24 commodities declined 11 percent last week, the most since December 2008, led by the 27 percent tumble in silver futures. The 14-day relative strength index for silver dropped to 34 from 90 in two weeks, a signal to some traders that the metal may be reaching oversold conditions.