WASHINGTON (dpa-AFX) - Gold futures rose Monday despite hawkish rhetoric from a top central bank.
Dallas Federal Reserve Robert Kaplan said he is in favor of a rate hike in the near future due to the risk of overheating jobs market.
'I believe it will likely be appropriate, in the near future, to take the next step in the process of removing monetary accommodation,' Kaplan said. 'This should be done in the context of an overall strategy of removing accommodation in a gradual and patient manner.'
Analysts expect the Fed will raise interest rates in December and three more times in 2018.
Dec. gold settled at $1,294.40/oz, up $7.10, or 0.6%.
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