Gold on Thursday extended a rebound from a three-month low on concern that economic risks in China and Greece will prompt the Federal Reserve to delay raising interest rates. Gold rose 0.5% to $1,164.21 an ounce. The precious metal had reached $1,147.36 on Wednesday, the lowest since March 18.
Silver also advanced 1.4% to $15.37 an ounce, gaining a second day. Minutes released on Wednesday of the Fed’s latest meeting showed policy makers were concerned about weak consumer spending and risks from China and Greece that have since intensified. The turbulence overseas poses a risk for US Expansion as officials prepare to raise rates for the first time since 2006.