Gold Climbs to One-Month High as Bets Wane on U.S. Rate Increase
ByGold rallied to the highest level in a month as bets eased on a U.S. interest rate increase in September after Federal Reserve officials said they needed more evidence of a strengthening economy, boosting the metal’s allure.
Gold for immediate delivery climbed as much as 0.5 percent to $1,139.59 an ounce, the highest level since July 17, and traded at $1,138.26 at 12:07 p.m. in Singapore after surging 1.5 percent on Wednesday, according toBLOOMBERG
generic pricing. That was the biggest increase since May 13.
Fed officials said they want more indications that the labor market is healing and that inflation isMOVING toward their goal, according to minutes of last month’s Fed meeting released Wednesday. The prospect of higher rates makes gold unattractive because the metal doesn’t pay interest…
Gold Climbs to One-Month High as Bets Wane on U.S. Rate Increase
