(Bloomberg) -- Gold rose to a nine-week high on speculation that climbing commodity costs and a decline in the dollar will spur demand for the metal as a hedge against inflation. Silver gained.
Bullion has increased 8 percent this year as the dollar declined 2.6 percent against the euro. Copper was also higher today. Demand for gold in exchange-traded funds will help the metal to an average of $680 an ounce in 2007, from about $653 so far this year, Morgan Stanley said in a report yesterday.
Read more at Bloomberg Commodities News
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