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Gold Rebounds From 16-Week Low as Dollar Declines; Platinum Sags

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Gold rebounded from a 16-week low after the dollar’s decline boosted demand for the precious metal as an alternative investment. Platinum and palladium extended slumps.

On the Comex in New York, gold futures for August delivery rose 0.7 percent to $1,160.20 an ounce at 11:32 a.m. Earlier, the price touched $1,145.90, the lowest for a most-active contract since March 18.