Precious metals made gains at the start of the new month on Thursday, with increases ranging from 0.7% for gold to 2.3% for palladium. Gold closed at a level not seen in more than two weeks. Gold for August delivery increased by $13.40 to settle at $1,995.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since May 15. "The precious metals are boosted today by ideas the Federal Reserve may pause in its interest-rate-hiking cycle,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note. Gold futures traded between $1,970.10 and $2,000.70, after ... (full story)