 "Gold prices hit one-month high")
Gold rallied more than one per cent to a one-month high on Wednesday after soft US data knocked the dollar lower against a basket of currencies and weighed on stock markets, boosting the metal's appeal as an alternative asset.
A recovery in the dollar had prevented gold from gaining traction after it rebounded last week from its lowest since mid-2013. The dollar's slide on Wednesday helped gold push back to a peak of $1,249.30 an ounce, its highest since September 11. Spot gold was up 0.9 per cent at $1,243.95 an ounce at 1348 GMT, while US gold futures for December delivery were up $10.40 an ounce at $1,244.70.
A recovery in the dollar had prevented gold from gaining traction after it rebounded last week from its lowest since mid-2013. The dollar's slide on Wednesday helped gold push back to a peak of $1,249.30 an ounce, its highest since September 11. Spot gold was up 0.9 per cent at $1,243.95 an ounce at 1348 GMT, while US gold futures for December delivery were up $10.40 an ounce at $1,244.70.