Gold poised for second weekly gain as Fed pause hopes hurt dollar

By: Admin
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Nov 24 (Reuters) - Gold held steady on Friday, set for its second consecutive weekly gain, supported by a weaker U.S. dollar as markets grew confident that the Federal Reserve was done with its interest rate hikes.

Spot gold held ground at $1,992.73 per ounce, as of 0431 GMT. Bullion has risen 0.7% this week. U.S. gold futures were little changed at $1,993.60.

"The theme in financial markets over the past week has been falling yields and a falling U.S. dollar, and... (these) are conducive for gold to move higher," said KCM Trade Chief Market Analyst Tim Waterer.

FULL REUTERS NEWS IN THE LINK BELOW

https://www.reuters.com/markets/commodities/gold-steadies-poised-second-weekly-gain-weaker-dollar-2023-11-24/