Gold Rises for Fourth Day as Yellen Affirms Rate Outlook

Gold futures rose for the fourth straight session after Federal Reserve Chair Janet Yellen affirmed U.S. borrowing costs will remain low, increasing demand for the precious metal as an alternative investment.

There is no need to change current Fed policy, Yellen said today at the International Monetary Fund in Washington. The central bank has kept its benchmark lending rate near zero percent since December 2008 and is buying longer-term Treasury debt and mortgage-backed securities.