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

Related posts:

1. Gold ends lower on dollar rise, seen vulnerable
2. Gold ends above $920, up over 6% in four sessions
3. Gold, Silver Rebound as Dollar Drops on Fed’s Discount-Rate Cut
4. Gold ends up, lifted by oil surge, dollar drift
5. Gold Rebounds as Dollar Tumbles After Fed’s Interest-Rate Cut
6. Survival Rate of Proof United States Gold Coinage
7. Gold Falls Most in Six Weeks as Dollar Rallies; Silver Declines
8. Gold Soars Most Since 1999, Silver Surges on Demand for Haven
9. Morphy Legend Auctions Online Bidding Open – Ends June 24th
10. Gold Has Biggest Weekly Gain Since July 2006