Gold Surges to Highest Since Early June on Tame U.S. Inflation
Cronk Says Gold Is on High-End of Range
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Gold futures extended gains to a nine-week high after a report showed U.S. consumer prices rose less than expected, weakening the case for the Federal Reserve to raise interest rates.
Bullion futures for December delivery rose 0.3 percent to settle at $1,294 an ounce at 1:48 pm on the Comex in New York. That’s the highest close for a most active contract since June 6. It earlier added as much as 0.6 percent to $1,298.10. The metal climbed 2.3 percent this week, posting the fourth weekly gain in five.