Gold Near Highest in More Than Six Months as Fed Announces QE3

Gold for December delivery on the Comex in New York traded little changed at $1,771.30 an ounce at 6:04 a.m. in Singapore time, after topping $1,770 yesterday for the first time since February as the Federal Reserve announced a third round of so-called quantitative easing to boost growth. The metal earlier fell 0.2 percent.

Cash bullion was little changed at $1,769.27 an ounce, after climbing to $1,772.68 yesterday, the most expensive since February 29.

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