NEW YORK, Jan 10 (Reuters) – U.S. gold futures set a record high just shy of $900 an ounce on Thursday, as funds poured money after comments by the Federal Reserve Chairman Ben Bernanke prompted speculation of further rate cuts and a dollar slide.


“The rate cut (speculation) has been driving the gold market through its impact on the dollar. I expect more of the same going forward,” said Thomas Winmill, portfolio manager of Midas Fund MIDSX.O in New York, which oversees $265 million of assets under management.

The most-active gold contract for February delivery at the COMEX division of the New York Mercantile Exchange GCG8 settled up $11.90 or 1.4 percent at $893.60 an ounce. It traded as low as $867.80 in early sessions on initial profit taking. Read Full Story

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