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Gold Advances for Second Day as Investors in `Risk-Off' Mode

  • Metal has seen average 4.4% climb in January over past decade
  • Middle East tension, share declines spur haven demand for gold
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Gold rallied a second day at the start of a month that’s been the strongest for the metal in recent years. Bullion rose on Tuesday as Middle East tensions helped spur haven demand.

“At the beginning of the year, people tend to look at different areas of investment, and gold is at an attractive level,” Frank Lesh, a trader at FuturePath Trading LLC in Chicago, said in a telephone interview. “There’s enough uncertainty as we start the new year, and people feel that gold is a safety vehicle.”