Economics
Gold Advances on Speculation Fed Will Take Steps to Spur Economy
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Gold futures gained for a second session in New York on speculation that the Federal Reserve will take additional measures to support economic growth, spurring demand for the metal as an inflation hedge.
Fed Chairman Ben S. Bernanke said today in Cambridge, Massachusetts, that gauges of the U.S. economy’s strength may fail to measure the suffering of individual citizens. German Chancellor Angela Merkel government today backed the European Central Bank’s bond-buying plan, her deputy spokesman Georg Streiter said.