Gold extended gains on Tuesday to hit its highest in more than a week, brushing off a firm dollar, after dovish comments from Fed policymakers revived prospects of a US rate cut in December. Spot gold rose 0.1% to $4,140.85 per ounce by 0457 GMT, the highest since November 14, building on a 1.8% advance on Monday. US gold futures for December delivery were 1.2% higher at $4,141.20 per ounce. “(Gold is primarily being) driven by expectations of a rate cut in the last two weeks and since expectations shot up (rapidly), it caused gold prices to recover in the short term,” OANDA senior market analyst Kelvin Wong said. ... (full story)