Gold futures surged 1.2% to close at $1,350.30 an ounce on Comex, a five-week high.
Providing the buying support for the yellow metal is the speculation that the Federal Reserve will continue to maintain the current rate of monetary stimulus to boost economic growth.
The climbing gold price will support shares in Australian Stock Exchange listed gold miners today, with producers to watch including Silver Lake Resources (ASX:SLR), Millennium Minerals (ASX:MOY), Medusa Mining (ASX:MML) and Newcrest Mining (ASX:NCM).
Another plus for domestic Australian producers is the recent pull back in the exchange rate against the greenback, and therefore an ounce of gold in the local currency fetches A$1400 an ounce.
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