Gold Wavers Near Record High as US Data Support Rate-Cut Bets

Gold steadied near a record high, as traders weighed the outlook for US monetary policy following economic data that supported the case for interest-rate cuts. Spot gold rose 0.6% on Friday before paring the advance to trade near $4,340 an ounce, which saw it notch a second straight week of gains. The core US consumer price index rose at the slowest pace since early 2021, according to data released Thursday, bolstering the case for lower borrowing costs – a tailwind for non-yielding precious metals. Mos ...