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Posted AT 3:59 PM EST on 14/07/08

Gold rises near 4-month high

FRANK TANG AND DAVID SHEPPARD

Reuters

NEW YORK, LONDON — Gold ended above $970 (U.S.) an ounce Monday, trading at its highest level in nearly four months as lingering fears of financial market instability and rising inflation boosted buying of the metal for its safe-haven appeal. Spot gold climbed to $971.20/972.20 by New York's last quote at 2:15 p.m. (EDT) an ounce – the highest level since March 19 – from $963/965 late in New York Friday.

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