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 2,400-Year-Old Gold Coins Found in Turkey: A Mercenary's Treasure READ MORE Virtual Gold Rush: How RuneScape Became Venezuela's Economic Lifeline READ MORE The Looming Threat of Empty Office Buildings READ MORE ZeroHedge: IEA, OPEC Divergence On Oil Demand Becomes Too Big To Ignore READ MORE Fed's Kashkari Stresses Need for Significant Inflation Progress Before Rate Cuts READ MORE Add a Comment Cancel replyYour email address will not be published.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