Gold Advances for 11th Year on Higher Jewelry, Investor Demand
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Gold rose the most this month, capping an 11th straight annual advance, on speculation that demand will climb from jewelers and investors.
Gold fell 4.7 percent in the previous six sessions to the lowest since July 7 as the dollar gained against the euro, curbing demand for the metal as an alternative investment. That may boost seasonal purchases, said Marc Ground, a commodities strategist at Standard Bank Plc. In the first quarter of 2011, jewelry demand jumped 12 percent from a year earlier in India, the world’s biggest buyer, according to World Gold Council data.