Gold Climbs to Six-Week High as Fed Seen Delaying Rate Increase
- Prices gain as Fed minutes show officials waiting on more data
- Platinum advances most since December, extending weekly climb
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Gold advanced to a six-week high as minutes of the Federal Reserve’s latest meeting increased speculation that the central bank will hold off raising interest rates until next year.
While Fed officials noted that hiring and consumer spending continued to improve, policy makers “decided that it was prudent to wait for additional information confirming that the economic outlook had not deteriorated,’’ minutes released Thursday showed. The odds of a rate increase in 2015 have dropped in the past month and traders and analysts surveyed by Bloomberg are the most bullish on gold in three weeks.