Gold posts biggest weekly gain in nearly two years

NEW YORK/LONDON: Gold eased on Friday but notched its biggest weekly advance in nearly two years as fears of an imminent winding down of the US Federal Reserve’s monetary stimulus eased for now.

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Spot bullion rose 4.8 percent for the week, the biggest weekly gain since October 2011. The metal rallied after Fed Chairman Ben Bernanke on Wednesday said the US central bank needed to keep an stimulative monetary policy in place given low inflation and an uncertain job market.


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