Gold futures rose the most this month after minutes from the Federal Reserve™s January meeting showed policy makers argued for keeping interest rates near record lows for longer. Silver advanced.
Bullion for April delivery added as much as 1.9 percent, the most since Jan. 30, to $1,222.90 an ounce. It was at $1,221 by 7:34 a.m. on the Comex in New York, after touching a six-week low of $1,197.20 on Wednesday.
Gold for immediate delivery climbed 0.7 percent to $1,220.86 in London, according to Bloomberg generic pricing.
Prices gained 3.1 percent on the futures market this year, partly as turmoil over Greece spurred haven demand. The country™s government submitted a request to its euro-area creditors to extend the availability of bailout funds for six months in a last-ditch effort to avert a cash crunch. Germany rejected Greece™s request, saying its offer doesn™t meet the euro region™s conditions for continuing aid.
Source : Bloomberg