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Gold Futures Rise to Six-Week High as Europe’s Debt Woes Mount

Gold futures rose to a six-week high as Europe’s escalating sovereign-debt crisis spurred demand for a haven.

Italian Prime Minister Silvio Berlusconi’s allies pressured him to step aside after contagion from the region’s fiscal woes pushed the nation’s borrowing costs to euro-era records. Gold jumped to a record $1,923.70 an ounce on Sept. 6 on demand for an alternative to equities and some currencies.