Gold futures finished higher Monday,
breaking above $1,100 an ounce Monday, as comments from Federal Reserve
Vice Chairman Stanley Fischer suggested the U.S. central bank may not
hike interest rates in September as the market has assumed.
Gold traders have been anticipating an
interest-rate hike for to Bloomberg TV Monday morning delivered a shot
in the arm to gold and other precious metals, including silver. Gold,
which offers investors no interest payments, could lose some of its
appeal to higher-yielding assets.
For December delivery, gold futures picked
up $10, or 0.9%, to settle at $1,104.10 an ounce, coming off its highs
of $1,108.50 of the session but still solidly higher.
In other metals, October platinum climbed $27.60, or 2.9%, to wrap up the session at $989.80 an ounce, while September palladium tacked on $9.30, or 1.6%, to end at $606.20 an ounce.
Source : MarketWatch
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