India, Aug. 12 -- Gold prices were up more than 1 percent on Wednesday amid rising bets that the U.S. Federal Reserve will not hike interest rates anytime soon.
Spot gold traded up over 1 percent at 4,413 an ounce, rising towards a 10-week high, primarily due to a reduction in expectations of Fed rate hikes after recent data showed a surprise contraction in the U.S. jobs market. U.S. gold futures were up 0.8 percent at $4,477.30.
For comments and feedback contact: editorial@rttnews.com
Published by HT Digital Content Services with permission from RTT News....