Gold Soars Above $1,200 as Yellen Signals Go-Slow on Rates Path

February 11, 2016 2:22 AM

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Gold jumped to the highest level in eight months after Federal Reserve Chair Janet Yellen signaled that the U.S. central bank may delay further interest-rate increases should the turmoil in global markets continue.

Bullion for immediate delivery rallied as much as 1.5 percent to $1,214.64 an ounce, the highest since May 22, according to Bloomberg generic generic pricing. The metal, which traded at $1,208.62 at 9:54 a.m. in Singapore, is set for a ninth gain in 10 days and is the year’s best performing commodit...

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