Gold Futures Rise Most in a Week Amid Currency Turmoil
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Gold futures rose for the first time in three sessions as a rout in emerging-market currencies spurred demand for the precious metal as a haven.
The South Africa Reserve Bank unexpectedly increased its benchmark interest rate today, following central banks in emerging markets from Turkey to Brazil that have tightened monetary policy to bolster their currencies. This week, a Bloomberg gauge tracking 20 emerging-market currencies fell to the lowest since April 2009.