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Gold Set for Weekly Gain on Haven Demand Amid Iraq Tumult

Gold futures capped a second straight weekly gain as escalating violence in Iraq boosted demand for the precious metal as a haven. Silver posted the longest rally in almost four months.

Crude oil jumped to the highest in more than eight months on concern that a civil war looms in Iraq, OPEC’s second-biggest producer. Gold gained 6 percent this year, partly because of escalating tensions between Ukraine and Russia.