Gold Rises for Second Day as Equity Declines Spur Demand
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Gold futures rose for a second straight day as a decline in equities boosted demand for alternative investments.
The Standard & Poor’s 500 Index of stocks fell as much as 0.9 percent as retailers from Staples Inc. to Urban Outfitters Inc. slumped on worse-than-estimated earnings. Gold has gained 7.7 percent this year as U.S. economic concerns and rising tension in Ukraine spurred haven demand.