Bengaluru — Gold prices rose to their highest in two weeks on Thursday amid a muted dollar, after minutes from the US Federal Reserve’s September policy meeting revealed low inflation concerns. Spot gold was up 0.2% at $1,294.29 an ounce by 3.38am GMT, after earlier marking its best since September 27 at $1295.45. US gold futures for December delivery climbed 0.6% to $1,296.50/oz. "Gold prices rose slightly as the market appeared to take the Fed minutes as slightly dovish. In particular, it was the comments on persistently low inflation that seemed to gain much attention. This saw the US dollar weaken slightly, increasing investor appetite for the precious metal," ANZ analysts said in a note. Fed policy makers had a long debate about the prospects of a pickup in inflation and slowing the path of future interest rate rises if it did not, according to the minutes of the US central bank’s last policy meeting on September 19-20, released on Wednesday. The dollar hit a fresh low of more ...
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