Gold, Silver Rise on Bets Fed Will Expand U.S. Stimulus
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Gold rose for the first time in four days on speculation that the Federal Reserve will buy more debt to boost the U.S. economy. Silver climbed to a seven-week high.
“I will be assessing the employment and inflation outlook in order to determine whether we should continue Treasury purchases into 2013,” Federal Reserve Bank of New York President William C. Dudley said in a speech in New York. Treasury Secretary Timothy F. Geithner began talks with congressional leaders on a budget accord.