WASHINGTON (dpa-AFX) - Gold futures rallied Monday for the biggest one-day gain in more than a month.
Signs of inflation and weaker U.S. dollar helped gold rebound from 3-month lows. Crude oil prices have jumped to the highest in two years, underscoring inflation expectations.
Geopolitical issues including a purge of political enemies of the Saudi royal family also helped gold's safe haven appeal.
December gold rose $12.40, or 1%, to $1,281.60 an ounce.
The Federal Reserve Bank of New York said Monday that William Dudley, president and chief executive officer, plans to retire from his position in mid-2018 to ensure that a successor is in place well before the end of his term.
Dudley's term ends in January of 2019 when he reaches the 10 year policy-limit in the role.
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