Gold storms up as U.S. stocks struggle to extend streak

Gold futures rallied Thursday, as U.S. stocks struggled to rally after registering three straight days of sharp gains.

April gold GCJ6, +0.03%  gained $14.90, or 1.2%, to settle at $1,226.30 an ounce, after settling modestly higher on Wednesday, just minutes before the Fed minutes were released at 2 p.m. Eastern Time.

The belief that the Fed might not raise benchmark interest rates at its next meeting in March amid mounting concerns about the stability of global markets and low-inflation fears has fostered a bullish stance among gold buyers. An extended period of low rates tends to be beneficial for precious metals that don’t offer a yield.

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