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market movers

Gold rallies, and mining companies gain

Gold futures for April delivery gained 1.8 percent to settle at $1,370.50 an ounce in New York.

Michael Dalder/Reuters

Gold futures for April delivery gained 1.8 percent to settle at $1,370.50 an ounce in New York.

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Gold rallied 1.8 percent, advancing to its highest level in almost six months as the continuing tension between Ukraine and Russia spurred demand for safe-haven investments. Newmont Mining Corp., based in Greenwood Village, Colo., increased 2.7 percent, while Barrick Gold Corp., of Toronto, gained 2.6 percent. Nova Gold Resources Inc., headquartered in Vancouver, advanced 4 percent.

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