News :: PRECIOUS-Gold extends gains on hopes Fed will delay interest rate hike
* Fed minutes show officials cautious on rate hike * Dollar dips, increasing gold's hedge appeal * Several Asian markets closed for Chinese New Year
Gold extended gains to a
second straight session on Thursday as minutes of the Federal
Reserve's meeting showed U.S. central bank officials were
cautious about raising interest rates too soon, hurting the
dollar.
Spot gold rose 0.3 percent to $1,215.93 an ounce by
0240 GMT. The metal closed up 0.3 percent on Wednesday, after
dropping to a six-week low of $1,197.56 earlier in the session.
Fed policymakers expressed concern last month that raising
rates too soon could pour cold water on the U.S. economic
recovery, and fretted over the impact of dropping "patient" from
the central bank's rate guidance.
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