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Gold Futures Advance as Global Stimulus Boosts Investor Demand

Gold climbed for the third time this week on signs that increasing global stimulus measures will boost investor demand for a hedge against inflation.

The European Central Bank stands ready to activate its bond-purchase program if governments fulfill necessary conditions, ECB President Mario Draghi said today. President Barack Obama, elected for a second term this week, faces a so-called fiscal cliff of $600 billion in tax increases and spending cuts to start in January unless Congress acts.