Bullionguru’s,”Gold at highest level since June as markets bet on patient Fed”

© Reuters. Gold at highest level since June

Gold prices rose to the highest level since mid-June in North American trade on Thursday, as a softening in the Federal Reserve’s confidence on inflation added to expectations that policy tightening would be glacial at best.

Comex gold futures were at $1,263.99 a troy ounce by 9:00AM ET (1300GMT), up $14.30, or about 1.2%. It touched its highest since June 15 at $1,265.14 earlier in the session.

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