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Gold is headed for its biggest quarterly advance since the final three months of 2007 as Europe’s sovereign-debt crisis and concern over the economic recovery fuel investment demand for safer assets.
Gold for immediate delivery was little changed Tuesday at $1,242.35 an ounce in Singapore. The metal jumped more than 11 percent this quarter. August- delivery futures were little changed at $1,243.40 an ounce.
Bullion has strengthened 13 percent this year, reaching a record $1,265.30 an ounce June 21, as investors seek alternatives to declining currencies. Bloomberg News
