Gold climbed toward a one-month high in London, extending a second consecutive weekly advance, on speculation Japan will increase stimulus. Silver was set for the longest rally in almost a year.
Bank of Japan officials started a two-day policy meeting today. The nation’s currency dropped to the lowest since June 2010 versus the dollar on speculation the BOJ, under pressure from the government of new Prime Minister Shinzo Abe, will boost stimulus to lift the economy out of recession. Gold remained higher after India raised its import duty on bullion.