Gold Headed for Weekly Gain on U.S. Rate-Cut Bets

Core Viewpoint - Gold prices have decreased due to a stronger dollar but are still expected to achieve a weekly gain following a lower-than-expected U.S. inflation report, which has bolstered expectations for further interest rate cuts [1] Group 1: Market Performance - New York futures for gold fell by 0.2% to $4,355.70 per troy ounce, while they are up 0.6% for the week [1] - The U.S. dollar index increased by 0.2% to 98.64 [1] Group 2: Market Expectations - Traders are currently estimating a roughly 25% chance of a rate reduction in January and are almost fully pricing in a cut by April, according to ANZ analysts [1]