Gold jumps to highest level in eight months

Singapore

GOLD climbed beyond US$1,200 an ounce on Thursday - spiking to its highest level in over eight months - after US Federal Reserve chair Janet Yellen indicated that further interest-rate increases could be delayed should the tumult in global markets continue.

The metal has been this year's best-performing commodity, fuelled by investors seeking a haven from slumping equities and weaker economies.