(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 7.9 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 support the metal to average $680 an ounce this year, up from about $653 so far this year, Morgan Stanley said in a report yesterday.
Read more at Bloomberg Commodities News
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