Gold Rises for Third Day on Bets China Demand Will Climb
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Gold rose for the third straight day on speculation that the demand will increase amid signs of a pickup in the economy in China, the world’s second-biggest consumer of the metal. Silver advanced to a two-week high.
In July, China’s industrial output rose more than estimated by analysts from a year earlier, government data showed today. Yesterday, statistics indicated a rebound in trade. The Standard & Poor’s GSCI Spot Index of 24 raw materials climbed as much as 1.1 percent, snapping a five-session slump. Zinc and nickel paced the rally, while platinum jumped to an eight-week high.