Gold holds near 2-week high

SINGAPORE — Gold neared its highest level in more than two weeks on Monday, but gains may be capped by a rally in equity markets and promising US jobs data that dampened speculation the Federal Reserve may boost monetary stimulus.

Bullion has slipped almost 12% so far this year, having posted annual gains in the past 12 consecutive years as easy monetary policy prompted investors to buy the precious metal to hedge against inflation and economic uncertainties.

Gold rose $7,05 an ounce to $1 477,25 due to a stronger euro.

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