 "gold, gold prices")
Gold prices extended gains on Friday and were set for their first weekly rise in three, as investors stepped up bets that the US Federal Reserve is done raising rates, pressuring the dollar and Treasury yields.
Spot gold was up 0.2 per cent at $1,985.29 per ounce, as of 0745 GMT, after hitting its highest since November 6 in the last session. US gold futures were steady at $1,985.29. The bullion is up 2.5 per cent so far this week.
“There’s probably a couple of set of sequences in which we could see gold push sustainably through $2,000, and that’s a very rapid deterioration in the data, which suggests again that rate cuts are on the horizon,” said Kyle Rodda, an analyst at Capital.com.
“Alternatively, the war is still bubbling, simmering away,” Rodda added.
Data this week showed the US consumer price index was unchanged in October and the core rate was up 0.2 per cent, weaker than anticipated.
