Gold soars to 6-year-high to $1,450 on US Fed rate cut hint, Iran tensions

Gold on Friday surpassed the key $1,450 level for the first time since May 2013, after comments from a top Federal Reserve official bolstered expectations of an interest rate cut, while fresh tensions in the Middle East further supported bullion. Spot gold hit $1,452.60 an ounce in early trade, its highest since May 10, 2013, before easing 0.2 per cent to $1,442.

56 as of 0336 GMT. The metal has gained nearly 2 per cent so far this week, on track for a second consecutive weekly gain. US gold futures jumped 1.1 per cent to $1,444.10.....

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