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Gold at near one-week high as Goldman says Fed may hold rates

Gold added 0.2 per cent to USD 1,137.75 an ounce

London: Gold traded near the highest in a week as Goldman Sachs Group said there is a chance US policy makers will delay raising interest rates well into next year. Traders have pushed back their expectations of when the Federal Reserve will start tightening as a report last week showed US payrolls grew less than economists had forecast. Gold added 0.2 per cent to USD 1,137.75 an ounce.

Prices reached a one-week high of USD 1,142.07 on Monday. Silver gained for the fourth day, adding 0.2 per cent to USD 15.68 an ounce and trading near the highest since mid-July. Higher rates curb the appeal of bullion, which does not pay interest or give returns like other assets such as bonds and equities

( Source : PTI )
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