Gold Posts Longest Rally Since June as Rate Concerns Ease
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Gold prices capped the longest rally since June amid easing concern that the Federal Reserve is close to raising interest rates, reviving demand for the metal as an inflation hedge.
More than $1.2 billion has been added to the value of exchange-traded products backed by bullion this week as prices rebounded. The 30-day historical volatility for futures traded in New York climbed today to the highest in more than a month amid renewed investor interest.