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Gold Hits Two-Week High as Dollar Weakens on Rate Speculation

  • ETF holdings backed by bullion soar to highest since 2013
  • Survey of LBMA attendees says gold to rise by next meeting
Updated on

Gold advanced to the highest in two weeks as a weakening dollar attracted buyers in exchange-traded funds backed by the metal amid mounting speculation that U.S. interest-rate increases will be gradual.

The Bloomberg Dollar Spot Index fell for a third day, the longest losing streak in three weeks, a day after a report showed a core U.S. inflation gauge rose less than estimated in September. That bolstered speculation the Federal Reserve won’t move aggressively in raising borrowing costs.