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Gold futures rose to a two-week high as equities and commodities rallied amid optimism that European officials will tame the region’s debt crisis.
Physical demand was “decent” yesterday, UBS AG said in a report. Consumption in India, the world’s biggest gold buyer, may climb on purchases for the Diwali religious festival later this month, followed by the wedding season.
Gold futures for December delivery reached $1,693.90, the highest for a most- active contract since Sept. 23. Аt the moment futures traded at $1679.6 on Comex in New York.
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