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Gold hits 3-1/2 week high as Yemen air strikes rattle markets

Mar 27, 2015    

LONDON (Reuters) - Gold rallied to a 3-1/2 week high on Thursday and silver rose nearly 3 percent as escalating tensions in the Middle East knocked stocks and the dollar and drove investors into assets viewed as lower risk, such as bullion and German bonds.European stocks tumbled 1.6 percent, the dollar fell and oil prices leapt 6 percent after Saudi Arabia and its Gulf Arab allies launched air strikes in Yemen to counter Iran-allied forces besieging the southern city of Aden. Spot gold hit a peak of $1,219.40 an ounce and was up 1.2 percent at $1,210 at 1240 GMT. U.S. gold for April delivery ...

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