Gold prices rose Thursday, extending modest monthly gains amid renewed hopes the Federal Reserve will relent on interest rate hikes for at least a few months.
Comments from a number of Fed officials indicate that low inflation and concerns about economic problems overseas will keep rates at ultra-accomodative levels through 2016.
June gold settled at $1,235.60/oz, up $7, or 0.6% for the session, and 16% for the quarter.
This represents the best quarter for gold prices since 1986, although the advance leveled off a bit in March.
A weak dollar helped drive commodities higher after a brutal end to the previous year.
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