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Gold Posts Longest Rally in Two Months on Haven Buying

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Gold capped the longest rally since August as weaker global economies and slumping U.S. equities revived demand for the metal as a haven asset.

More than $970 million has been added to the value of global exchange-traded products backed by bullion this month. The metal has fallen back in favor after Federal Reserve officials indicated weaker foreign expansion posed a risk to the U.S. outlook. American retail sales dropped more than forecast in September, government figures showed today.