Bullionguru’s,”Gold nears 2-week high as markets bet on patient Fed”

© Reuters. Gold starts the week on front foot

Gold prices edged higher in European trade on Monday, extending last week’s strong gains on bets that lackluster U.S. data will keep the Federal Reserve cautious about the future pace of policy tightening.

Comex gold futures were at $1,230.06 a troy ounce by 3:55AM ET (0755GMT), up $2.55, or around 0.2%. It touched its highest since July 3 at $1,232.70 in the prior session.

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