Gold prices are extending their recent climb amid speculation the Federal Reserve will keep up its support for the U.S. economy. The Commerce Department said Monday that retail sales rose just 0.4 percent in June. That’s less than analysts had forecast and also slightly less than the previous month. Any sign of weak or tepid economic growth tends to support expectations that the Fed will stick with its bond-buying program.
Gold for August delivery rose $5.90 to $1,283.50 an ounce. Gold has settled higher five of the last six trading days and has climbed 5 percent this month. Silver for September inched up 4.7 cents to $19.839 an ounce, while copper for the same month slipped 1 cent to $3.1445 a pound. Platinum-group metals gained 1 percent or more.
