Gold Advances on Global Slowdown Concern, European Debt Risks
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Gold gained for a third day as interest-rate increases spurred concern that the global economy may slow and as the European sovereign debt crisis increased demand for the metal as a haven.
Gold for immediate delivery advanced 0.3 percent to $1,532.85 an ounce at 1:36 p.m. in Singapore. The August- delivery contract was 0.3 percent higher at $1,533.20 an ounce, also up for a third day.