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Gold Ends Longest Run of Gains in 3 Months as China Calms Market

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Gold declined, ending its longest run of gains in almost three months, as China eased concern about a devaluation of its currency.

Global equities rebounded, and demand ebbed for haven assets including bonds and precious metals, after the People’s Bank of China quelled fears of broader currency wars with verbal support for the yuan. Bullion rose in the previous five days.