Economics
Gold Climbs on Value-Store Demand as Bernanke Offers No Boost
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Gold futures climbed in New York after Federal Reserve Chairman Ben S. Bernanke held off from offering more stimulus to help economic growth, boosting the appeal of investments that can act as a protection of wealth.
December-delivery bullion on the Comex in New York rose as much as 2.5 percent to $1,841.50 an ounce before trading up $19.20, or 1.1 percent, at $1,816.50 by 8:51 a.m. Immediate-delivery gold fell 0.8 percent to $1,813.25 an ounce. The metal has fallen as much as 11 percent from its all-time high of $1,917.90 on Aug. 23 as equities rebounded.