Gold futures finished higher Monday, breaking above $1,100 an ounce Monday, as comments from Federal Reserve Vice Chairman Stanley Fischer suggested the U.S. central bank may not hike interest rates in September as the market has assumed.Gold traders have been anticipating an interest-rate hike for September, and Fischer’s remarks to Bloomberg TV Monday morning delivered a shot in the arm to gold and other precious metals, including silver. Gold, which offers investors no interest payments, could lose some of its appeal to higher-yielding assets.
For December delivery, gold futures GCZ5, -0.53% picked up $10, or 0.9%, to settle at $1,104.10 an ounce, coming off its highs of $1,108.50 of the session but still solidly higher.
Meanwhile, September silver SIU5, -0.86% tacked on 47 cents, or 3.2%, to end at $15. 29 an ounce after finishing at $14.82 an ounce on Friday.
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