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News Link • Precious Metals

Gold Sets New High, and Stocks Rise

• Reuters
Spot gold rose 1 percent to $1,208.70 amid a broad rally in commodities on expectations of rising global demand, fueled by upbeat U.S. home sales and analysts' forecasts that China's economy could grow by 10 percent or more this quarter.

Copper touched its highest level in 15 months.

Gold was also supported by weakness in the U.S. dollar, which was again on the defensive while the euro and high-yielding currencies extended gains as investor risk appetite showed little sign of waning as it usually does heading into the year end. 

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