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Gold Futures Rises to 14-Week High as Dollar Declines

Gold futures rose to a 14-week high as the dollar’s decline boosted demand for the precious metal as an alternative investment. Platinum climbed to the costliest since September on supply concerns, topping $1,500 an ounce.

The greenback touched a seven-week low against a basket of 10 currencies as the Institute for Supply Management said that its factory index was little changed in June from May. Gold advanced 3 percent in the second quarter as the dollar fell 1.2 percent.