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Gold Heads for Biggest Monthly Gain Since 2012 on Haven Demand

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Gold rose for a fourth day to head for the biggest monthly advance in four years on mounting concern over a global slowdown, with prices advancing even as China’s central bank sought to reassure investors about the outlook for Asia’s top economy.

Bullion for immediate delivery climbed as much as 0.6 percent to $1,240.47 an ounce and traded at $1,237.20 at 3:47 p.m. in Singapore, according to Bloomberg generic pricing. It’s up 11 percent this month, the most since January 2012, as investor holdings surged.