Price Increases for Six Consecutive Weeks
by Ira Iosebashvili, WSJ:
Gold prices are rising as investors bet that the U.S. Federal Reserve will keep rates at rock-bottom levels, even as the U.S. economy shows signs of improvement.
Gold for July delivery rose 1.3% last week to $1,337 a troy ounce on the Comex division of the New York Mercantile Exchange. It was the sixth weekly gain, the longest such streak since August 2011, when prices were pushing toward $1,900 an ounce.
The rally has been spurred by the Federal Reserve’s commitment to keep interest rates near zero for as long as possible, as it tries to fuel a recovery that appears to have gained traction only recently.
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