Gold Climbs Above $1,400 as Decline in Stocks Increases Demand
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Gold rebounded to trade above $1,400 an ounce as equities retreated and the dollar’s rally halted, boosting demand for the metal as a store of value. Silver, platinum and palladium increased.
Spot gold rose as much as 0.7 percent to $1,408.50 an ounce, and traded at $1,405.06 at 2:12 p.m. in Singapore. Prices decreased 0.9 percent yesterday. Cash silver advanced 0.4 percent to $22.6295 an ounce.