Gold Gains as U.S. Consumer-Price Rise Fuels Inflation Concern
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Gold advanced for the first time in three days after a government report showed the cost of living in the U.S. increased by the most in six months, boosting the appeal of the precious metal as a hedge against inflation.
The consumer-price index rose 0.3 percent in December, the most since June, following no change the prior month, a Labor Department report showed. Gold slumped 28 percent last year after some investors lost faith in the metal as store of value and consumer costs climbed 1.5 percent in 2013, the smallest calendar-year gain since 2010.