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Gold Extends Longest Rally Since 2012 on Haven Demand

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Gold extended its longest run of gains in more than two years as Saudi Arabia and its allies started bombing targets in Yemen, boosting demand for haven assets.

Oil rose to the highest in more than two weeks amid the violence in Yemen. Saudi Arabia’s southern neighbor in a part of the world that supplies a third of the world’s crude. Investors have historically turned to precious metals during times of escalating geopolitical tensions that threaten equity valuations.