Gold set for biggest weekly fall in 3 years as Fed rate-cut bets ease

2024-11-18

Gold prices on Friday were on track for their biggest weekly decline in over three years as expectations of less aggressive interest rate cuts by the U.S. Federal Reserve lifted the dollar, denting allure for bullion among investors.

Spot gold lost 0.1% to $2,562.59 per ounce. Prices have fallen more than 4% so far this week, touching their lowest since Sept. 12 on Thursday. U.S. gold futures fell 0.2% to $2,567.20.

$ETFS Physical Gold(GOLD.AU)$

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