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Gold Futures Advance on China Inflation, Physical Demand

Gold futures climbed for the second straight day as accelerating inflation in China boosted the appeal of the metal as a hedge, while demand increased for jewelry, coins and bars.

China’s consumer-price index rose 2.7 percent from a year earlier, government data showed today. That compared with a median estimate of 2.5 percent in a Bloomberg survey. Demand in Asia for gold has been underpinned by reports of purchases in China, Standard Bank Plc said in a report.