Gold Prices Surge to 3½-Month High – Wall Street Journal

HONG KONG—Gold prices surged to a 3½-month high Wednesday thanks to investors further discounting the chance of the U.S. Federal Reserve raising interest rates and strong safe-haven buying by Chinese consumers looking to hedge their bets on choppy stock markets.

Gold prices rose to $1,174.73 per troy ounce during Asian morning hours, the highest level since July 1, before easing slightly to $1,172.48 per ounce.

The biggest…