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Gold Close to Erasing This Year’s Gains on Rising Rates

Gold declined in New York, with the metal almost erasing this year’s gains as the outlook for higher U.S. interest rates amid an improving economy curbs demand. Platinum dropped to a five-year low.

Gold fell 0.7 percent this week, cutting its 2014 increase to 0.4 percent. The Bloomberg Dollar Spot Index, which reached a four-year high this week, rose before a U.S. report that economists say will show employers added the most jobs in three months. Improving U.S. data has added to speculation that the Federal Reserve will raise interest rates next year.