Gold Futures Jump Most Since June as Central Banks Buy
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Gold futures rose the most since June following purchases by central banks and signs of increasing investor demand on the heels of last week’s biggest plunge in three decades. Silver posted the biggest gain in 15 months.
Russia and Kazakhstan expanded gold reserves in March for the sixth straight month, International Monetary Fund data show. The volume for the Shanghai Gold Exchange’s benchmark contract has been more than four times last year’s daily average every day since April 16, while monthly coin sales by the U.S. Mint are heading for the highest since December 2009.