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Gold clings to 7-week high as investors gauge Fed trajectory; silver near record peak
Gold prices held near a seven-week high on Friday, supported by expectations of more interest rate cuts next year after the U.S. Federal Reserve pushed back against hawkish market bets, while silver hovered just below Thursday’s record peak. Spot gold dipped 0.2% to $4,275.44 per ounce by 0236 GMT, but was on track for a 1.8% weekly gain after hitting its highest since October 21 on Thursday. U.S. gold futures slipped 0.2% to $4,306.20. The dollar was on track for a third straight weekly drop, making bullion cheaper for overseas buyers. “Gold is looking quite positive and investors are taking cues from the fact ... (full story)
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