Bloomberg reported that gold futures hit a 29-week high as a result of expectations that demand will increase as central banks in the United States, Japan and Europe take steps to fuel economic growth.
As quoted in the market news:
On the Comex in New York, gold futures for December delivery climbed 50 cents to settle at $1,771.70 an ounce at 1:45 p.m. Earlier, the price reached $1,781.80, the highest for a most-active contract since Feb. 29. The metal has gained 13 percent this year.