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

By: Admin

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.