Gold Ends Higher, Posts Best Settlement Price Since July

Gold futures finished higher on Monday, building on the prior week's healthy gains that came amid bets for a further delay in U.S. interest-rate hikes. Gold for December delivery on Comex (s: GCZ5) picked up $8.60, or 0.7%, to settle at $1,164.50 an ounce, marking the highest close for a most-active contract since July 6, when gold ended at $1,173.20 an ounce, according to FactSet. The move higher for gold comes as metals broadly enjoyed a rebound amid news that the world's second-largest economy, China, is looking to implement monetary stimulus that might help mitigate a slowdown in the country--the biggest importers of commodities.