Gold Futures Rise, Head for Monthly Gain, as Dollar Weakens
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Gold futures rose, capping a third straight monthly gain, on speculation that the Federal Reserve will increase debt purchases, weakening the dollar and boosting the metal’s appeal as an alternative investment.
Gold is up 3.7 percent this month while the dollar has sank 1.9 percent against a basket of six major currencies on bets that policy makers, meeting on Nov. 2-3, will announce another round of so-called quantitative easing to bolster the economy. The metal reached a record $1,388.10 an ounce on Oct. 14.