Gold May Rise in New York as European Debt Concern Spurs Demand
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Gold may gain for a fourth day in New York as concern about Europe’s debt crisis spurs demand for a protection of wealth.
Chancellor Angela Merkel signaled a willingness to compromise on German demands that bondholders shoulder a “substantial” share of a Greek rescue, saying she’ll work with the European Central Bank to resolve the crisis. Gold is trading 3.1 percent below its record reached last month.