Gold settles at a one-week high, holds gains in electronic trade after Fed Beige Book

Gold prices climbed Wednesday, settling at their highest level in a week, then held onto their gains in electronic trading shortly after the release of the U.S. Federal Reserve’s Beige Book. The snapshot of domestic economic activity shows growth at a "modest to moderate" pace in March and early April, the same rate as earlier in the year. June gold was at $1,353.60 an ounce in electronic trading. Prices had climbed $4, or 0.3%, to settle at $1,353.50 an ounce--the highest finish for a most-active contract since April 11, according to FactSet data.