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Gold Futures Top $1,550 on Demand for Alternative to Currencies

Gold rose to a seven-week high as fluctuations in currency markets boosted demand for the precious metal as an alternative investment.

The euro fell against the dollar in the two weeks ended June 17 on speculation that the Greek government will struggle to pass austerity measures to avoid a default. Gold prices in U.K. pounds rose to a record today. The metal gained for seventh straight sessions, the longest rally since April.