WASHINGTON (dpa-AFX) - Gold futures surged Monday amid increased risk aversion and a weaker U.S. dollar.
The dollar tumbled as Federal Reserve Chair Janet Yellen disappointed investors looking for clues about the next interest rate move during the weekend's Jackson Hole meeting.
Meanwhile, the deadly hurricane Harvey continued to batter the Texas communities of metro Houston.
'The breadth and intensity of this rainfall are beyond anything experienced before. Catastrophic flooding is now underway and expected to continue for days,' the National Weather Service said on Twitter.
Harvey hit Texas as a Category 4 hurricane with winds of 130 miles per hour (210 kph), the strongest storm to hit the state since 1961.
Dec. gold jumped $17.40, or 1.3%, to settle at $1,315.30/oz, the highest since September 30.
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