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Gold hits three-month peak as U.S. rate rise views ease

Reuters  |  LONDON 

By Susan FentonLONDON (Reuters) - Gold extended its rally on Thursday, building on the previous day's gains to strike a three-month high as global economic and financial headwinds present obstacles to a U.S. interest rate rise in the near term.Spot gold rose more than 1 percent at one point to touch $1,156.60 an ounce, its highest since Oct. 29, adding to Wednesday's 1.2 percent rise.The yellow metal has benefited from a selloff in the dollar over the past two days as investors trimmed forecasts for U.S. rate rises this year. William Dudley, president of the Federal Reserve Bank of New York, ...

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First Published: Fri, February 05 2016. 01:14 IST