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Gold Has Longest Slump in Six Years, Platinum Falls on Dollar

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Gold Hits Bearish Deflation, Dollar Cocktail: Steel

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Gold headed for the longest slump in six years and platinum fell to a 67-month low as the dollar’s rally cut demand for precious metals as alternative assets.

The greenback climbed to the highest in almost 12 years against a basket of six currencies on speculation that the Federal Reserve is getting closer to raising interest rates, while the European Central Bank purchases debt. Spot gold touched a 14-week low.