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Gold on Thursday jumped the most in four weeks after Dagong Global Credit Rating Co cut its credit rating for the US and on speculation the Federal Reserve will postpone slowing stimulus.
Gold climbed 3 per cent to $1,321.38 an ounce, the most since September 18. Silver also advanced 3.6 per cent to $22.17 an ounce.
Congress voted yesterday to raise the US debt limit, ending a government shutdown that began October one that has taken $24 billion out of the economy.
Gold is set for the first annual drop in 13 years as some investors lost faith in the metal as a store of value and on speculation the Fed will slow debt purchases.
Policymakers unexpectedly refrained from curbing bond buying at its September 17 meeting.
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