Futures contracts of gold on COMEX broke above the psychological level of $1,300 an ounce and hit a two-month high as the terrorist attacks in Barcelona, Spain boosted safe-haven buys. The attack, claimed by the Islamic State, involved a van that ploughed into crowds in Barcelona, where at least 12 people were killed and several injured. The most-active December contract of gold on COMEX was up 0.56% at $1,299.50 an ounce after hitting a two-month high of $1,301.10.Intraday, traders and investors await speeches by US Federal Reserve members and economic data for further cues on the timing of a rate hike in the US.
Source : Newswire
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