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Gold Futures Advance Most in a Year on U.S. Stimulus Outlook

Gold gained the most in more than a year on speculation that the Federal Reserve will maintain U.S. economic stimulus, boosting the appeal of the precious metal as a store of value. Silver also surged.

Bullion rose 1.3 percent last week, capping the first back-to-back weekly gains since May, after Fed Chairman Ben S. Bernanke indicated that it’s too early to decide whether to begin scaling back bond purchases in September. Existing home sales in the U.S. fell 1.2 percent in June, the National Association of Realtors said today.