Gold set for 3rd weekly gain as cooler data cements Fed cut bets

By: Admin
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Dec 1 (Reuters) - Gold prices were set to mark a third straight weekly rise on Friday, after data showing cooling inflation cemented bets for a rate cut in the U.S., with traders looking forward to comments from Federal Reserve's Chair Powell later in the day.

Spot gold rose 0.2% at $2,039.42 per ounce by 0427 GMT, after marking an over $60 rise in November - its second straight monthly rise.

U.S. gold futures for February delivery rose 0.1% to $2,059.00.

https://www.reuters.com/markets/commodities/gold-set-3rd-weekly-gain-cooler-data-cements-fed-cut-bets-2023-12-01/