2023-11-25 17:47:22
Gold prices rose at the settlement of trading on Friday, recording gains for the second week in a row, with increasing analyst bets that the Federal Reserve (the US central bank) had finished raising interest rates, which led to a decline in the dollar.
Gold rose in instant transactions by 0.56% to $2,002.85 per ounce, while the yellow metal increased by 1.15% this week.
US gold futures also rose 0.5% to $2,003 per ounce, while recording weekly gains of 0.9%.
The dollar index recorded its second weekly decline of 0.5%, making gold less expensive for holders of other currencies.
Markets reduced their expectations for a reduction in interest rates in 2024 following data showed that the number of Americans who filed new applications for unemployment benefits decreased more than expected.
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