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Gold Advances as Buyers Take Advantage of Price Decline

Gold gained for a second straight day in New York as investors seeking to diversify their assets increased physical holdings of the metal.

Holdings in the SPDR Gold Trust, the biggest bullion-backed exchange-traded fund, rose yesterday for a second day to 1,270.26 metric tons, according to the company’s website. Demand in Asia outside of India was “good” yesterday and interest in Europe is “evident,” UBS AG said in a report. Before today, bullion declined 6.3 percent this month.