Gold Drops From One-Week High on Signs Israeli Fighting May End
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Gold declined from a one-week high as a Hamas official said a draft accord with Israel that would end fighting in the Gaza Strip is almost ready, crimping demand for the metal as an investment haven.
An announcement was likely at 9 p.m. Cairo time, and the cease-fire will take effect at midnight, Osama Hamdan, a Hamas official, said by telephone from Beirut. His comments came as U.S. Secretary of State Hillary Clinton flew to the region to join truce talks that also include United Nations Secretary-General Ban Ki-moon.