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Gold Heads for the Best Week Since 2011 as `Fear Is in Control'

From bloomberg.com

Gold’s explosive start to 2016 has lifted prices to the highest level in a year as investors flee a bear market in global stocks, a weakening dollar and the fallout from the spread of negative interest rates. “It’s Friday and fear is in control of markets,” Australia & New Zealand Banking Group Ltd. said in a note to clients. Bullion is benefiting from “rising safe-haven buying, making it the best performing commodity in 2016.” Shares in producers including Newcrest Mining Ltd. and Zijin Mining Group Co. rallied after bullion surged on Thursday to $1,263.48 an ounce, the highest since February 2015, according to ... (full story)

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