On the Comex division of the New York Mercantile Exchange, gold delivery in April rose by 10.60 cents, or equivalent to 0.88%, to trade at $ 1,212.10 a troy ounce during European morning trade, after scoring during the day high of $ 1,213.80 per ounce, the highest price since February 20.
On the previous day, gold rose 4.20 cents, or equivalent to 0.35%, to close at 1,201.50.
It is likely to find gold futures support at $ 1,190.00 per ounce, the lowest price since February 24 and resistance at $ 1,215.30 per ounce the highest price since February 20.
At the same time, silver May delivery rose 23.6 cents, or 1.43 Mapadel%, to trade at $ 16.71 an ounce. Prices have risen by 24.1 cents, or equivalent to 1.48%, on Wednesday to close at $ 16.47 per ounce.
Investors trimmed their expectations for a rate hike in the middle of the year after it said unrelenting in her testimony before the Banking Committee in the Senate on Tuesday that it was "unlikely" that justifies the economic conditions prevailing interest rate increases, at least for the next few meetings of the Federal Reserve Board.
She added that if the economy continues to improve as expected the Fed would be amended directives to raise interest rates, but stressed that the use of the term amendment does not necessarily mean that the rate hike would happen automatically within a number of meetings.
On the second day of Chhadhtha before the Committee on Financial Services on Wednesday reiterated its unrelenting this message, saying, should go up a wage growth and inflation before the Bank to raise interest rates, despite signs of improvement in the labor market.
Analysts said the market that the Fed testimony given more flexibility to raise interest rates later in the month of June of this year.
The delay in raising interest rates lead to higher gold, as it reduces the relative cost of the contract to the metal, which does not provide any compensation or guarantees to investors.
The dollar index, which measures the strength of the dollar against a basket of six major currencies, was up 0.05% to hit 94.20.
Usually Maystvid gold from the weak dollar, it also enhances the metal's appeal as an alternative asset and makes commodities priced cheaper for holders of other currencies to the dollar.
Later in the day investors awaited the release of US data on inflation and unemployment claims in search of other indicators on the strength of the economy.
Elsewhere in the COMEX, rose, copper May delivery rose 1.3 cents, or equivalent to 0.47%, to trade at $ 2.656 a pound.
Showed data released earlier in the preliminary reading of the index of manufacturing managers in China rose slightly to 50.1 in February, just above the 50.0 level that separates growth from contraction on a monthly basis.
Asian nation is the largest consumer of copper in the world, and accounted for 40% of global consumption last year. Gold investing news