Gold Eyes Second Weekly Gain Amid U.S. Rate-Cut Hopes Gold prices are set for a second consecutive weekly gain, driven by optimism over potential U.S. interest-rate cuts following recent weak economic data. Spot gold rose 0.3% to $2,366.83 per ounce, reaching a two-week high, and has gained over 1% this week. U.S. gold futures increased by 0.5% to $2,380.80. Softer economic indicators, including a slowdown in housing and tepid retail sales, have bolstered hopes for a rate cut, reducing the opportunity cost of holding non-yielding bullion. Meanwhile, China’s yuan hit a seven-month low, further boosting gold demand. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Powell's Friday Jackson Hole Address: Decoding the Fed's Next Move READ MORE SILVER ALERT: Could This Mexican Law Change Cause a Supply Crunch? READ MORE What Does the Red Sea Disruption Mean for Europe's Economy? READ MORE Gold's Glitter May Fade: Expert Cautions on Gold's Vulnerability Post-Rally READ MORE 446 Days and Counting: Recession Signal Fails to Predict Economic Downturn READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment