Gold Futures Rise to Three-Week High as Dollar Declines

Gold futures rose to a three-week high as concern that the global economy is faltering stoked bets that the Federal Reserve will keep U.S. interest rates low, driving the dollar down and boosting the metal’s allure.

Fed Vice Chairman Stanley Fischer said on Oct. 11 that weak growth outside the U.S. may prompt the central bank “to remove accommodation more slowly than otherwise.” Last week, gold jumped 2.4 percent, while the dollar fell against a basket of 10 currencies, ending the longest rally since June 2010.