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Gold Reaches 3-Month High as Silver Caps Best Rally Since 2011

Gold extended its 2014 rally, climbing to a three-month high as speculation that U.S. stimulus will continue boosted the appeal of alternative assets. Silver rose in the longest run of gains since 2011.

Federal Reserve Chairman Janet Yellen said yesterday that while the recovery in the U.S. labor market is “far from complete,” stimulus would be cut in “measured steps.” Bullion rose 70 percent from December 2008 to June 2011 as the Fed pumped more than $2 trillion into the financial system.