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Gold price at over 2-month high, reclaims $1,400 level

Gold price at over 2-month high, reclaims $1,400 level

24 August 2013 09:11 (UTC +04:00)

Baku. Agshin Rafigoglu – APA-Economics. Gold rose almost 2 percent on Friday, hitting its highest price in more than two months near USD 1,400 an ounce, as a big drop in US new home sales renewed hopes that the Federal Reserve will maintain its bond-buying economic stimulus.

Bullion also drew support when three Fed officials expressed divergent views on when to reduce the central bank's USD 85 billion monthly bond buying. Investors have been trying to predict what will happen at a Fed policy meeting next month.

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