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 Retaliation Promised: Biden's Response to Drone Attack in Jordan READ MORE India's Gold Demand Climbs 8% in Q4 Despite High Prices, WGC Reports READ MORE JPMorgan Chase CEO Jamie Dimon Remains Cautious on the U.S. Economy READ MORE Potential Layoffs Ahead as Companies Brace for Interest Rate Hikes READ MORE Fed's Powell: More Evidence Needed Before Rate Cut Considerations READ MORE Add a Comment Cancel replyYour email address will not be published.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