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Gold Caps Longest Rally in Six Months Amid Easing Speculation

Gold capped the longest rally in six months as signs of slowing growth in Europe increased speculation that central banks will expand stimulus measures, boosting demand for precious metals as a store of value.

U.K. industrial production unexpectedly fell in January from a month earlier, government data showed today. In February, Bank of England policy makers said they “stand ready” to increase stimulus action to support the recovery. The European Central Bank will maintain its accommodative monetary-policy stance “for as long as necessary,” Jens Weidmann, an ECB council member and head of Germany’s Bundesbank, said in a Bloomberg Television interview today.