Gold Climbs to Three-Week High as Dollar’s Slump Boosts Demand
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Gold futures rose to a three-week high and silver climbed as the dollar’s slump spurred demand for commodities.
The Thomson Reuters/Jefferies CRB Index of 19 raw materials headed for the third straight weekly gain after the Group of Eight leaders said the global economy is strengthening. The dollar fell as much as 1 percent against a basket of six major currencies. Gold has gained 27 percent in the past year, reaching a record $1,577.40 an ounce on May 2.