Metals Stocks: Gold rises to two-week high after Fed statement fuels bulls

Gold prices trekked higher Thursday as investors were emboldened by a Federal Reserve policy statement that they read as hinting at a central bank hesitant to raise rates too quickly.

Gold for December delivery GCZ6, +1.15% rose $15.70, or 1.2%, to $1,342.40 an ounce, setting it on track for the highest close since July 13.

Metals held on to their early gains even after jobless-claims data showed that the number of people who applied for unemployment benefits last week rose by 14,000 to 266,000 but remained extremely low, reflecting a still-growing economy.

The contract had also rallied in electronic trade on Wednesday to trade at $1,348.80 an ounce, up more than $14 from the day’s regular settlement price.

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