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Gold Climbs in Longest Run Since October as Investors Seek Haven

  • Bullion rises above 50-day average; Newmont shares climb
  • `This is a fear trade,' says Michael Smith of T&K Futures
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Gold advanced for a fourth straight day, the longest rally in almost three months, as a selloff in equities and a claim that North Korea detonated a hydrogen bomb boosted demand for a haven asset.

Bullion reached the highest in mid-November as stock markets around the world retreated. The atomic-test claims add to investor concerns spurred by Saudi Arabia-Iran tensions and China’s stock-market rout earlier this week that had already boosted gold’s appeal as a store of value.