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Gold up on Fed rate pause signals; strong equities limit gains

Reuters 

By Sumita Layek(Reuters) - Gold prices rose to hit a peak in more than a week on Wednesday on signs that the U.S. Federal Reserve will likely be patient on further interest rate rises, but rallying global equities kept the metal's gains in check. Spot gold was up 0.1 percent at $1,311.29 per ounce as of 1:43 p.m. EST (1843 GMT), having touched their highest level since Feb. 4 at $1,318.12.U.S. gold futures settled up 0.1 percent to $1,315.10.Federal Reserve officials have indicated that they will support a pause in interest rate hikes from the U.S. central bank to assess its impact in ...

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First Published: Thu, February 14 2019. 06:00 IST
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