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Gold Rises as Silver Caps Biggest Weekly Gain Since 2008

Gold rose to the highest in almost two months and silver capped the biggest weekly rally since 2008 on signs of higher physical demand for precious metals.

Global bar and coin purchases reached a record last quarter and jewelry usage rose to the most since 2008, World Gold Council figures showed this week. Thirteen analysts surveyed by Bloomberg expect the metal to rise next week, four were bearish and five neutral, the highest proportion of bulls since March 8. Holdings in exchange-traded products backed by silver reached an all-time high yesterday, data compiled by Bloomberg show.