NEW YORK (TheStreet) -- Gold prices were rising Friday ahead of Federal Reserve Chairman Ben Bernanke's speech in Jackson Hole, Wyo., as investors anticipate the possibility of monetary stimulus at the annual economic symposium.
Gold for December delivery was rising $5 to $1,662.10 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded as high as $1,663 and as low as $1,655.10 an ounce, while the spot price was dipping 80 cents, according to Kitco's gold index.
Gold traders have waited most of this week and last week to see if the Fed would follow up its statement in last Wednesday's Federal Open Market Committee minutes -- that it would consider policy action in September -- with a fresh round of quantitative easing.
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