Gold reaches a two-week high on Friday, marking a second consecutive weekly rise, as the dollar and U.S. Treasury yields decline amid growing expectations of an early interest rate cut by the Federal Reserve.
"Precious metals, including gold, are being driven higher by very aggressive rate cut expectations with the market pricing in a Fed cut in March and a total of 150 bps in 2024," said Tai Wong, a New York-based independent metals trader.
Gold gains after US data spurs Fed rate-cut prospects zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.