Gold traded near the highest level in more than two weeks after the longest run of gains since 2012 amid speculation that the Federal Reserve may keep interest rates lower for longer.
Bullion for immediate delivery was at $1,195.03 an ounce at 8:13 a.m. in Singapore from $1,195.47 on Wednesday, according to Bloomberg generic pricing. Gold traded in Shanghai advanced.
Prices climbed every day since Fed policy makers suggested they aren’t in a hurry to raise borrowing costs for the first time since 2006. The dollar fell on Wednesday against a basket of 10 currencies as investors continued to adjust their outlook for the greenback in the wake of last week’s Fed meeting. U.S. orders for durable goods unexpectedly dropped in February, government data showed Wednesday.
Bloomberg
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