Gold rises to highest in two weeks in longest run in a year

LONDON: Gold today reached a two-week high in the longest run of gains in a year amid speculation US policy makers will hold off raising interest rates until later this year.

Gold rose 0.4 per cent to $ 1,194.06 an ounce. It reached $ 1,194.55, the highest since March 6, and a fifth straight gain would mark the longest run since February, 2014.

Silver also rose 0.1 per cent to $ 16.99 an ounce, the fifth consecutive advance.

US Federal Reserve signaled last week that the central bank is in no hurry to raise rates, after the Fed dropped a pledge to be patient on tightening.