Futures rose 0.4% to $3,689.80 a troy ounce in early trade and are up 1% on the week. Markets are pricing in a 25-basis-points cut next week and potentially further easing by year-end. Non-yielding bullion tends to benefit in low-interest environments.
“Softer U.S. labor data and an in-line August inflation print have given policymakers room to ease, while a weaker dollar and falling Treasury yields further support gold,” said Soojin Kim, analyst at MUFG. “Gold has surged 39% this year, outpacing equities, with demand reinforced by central bank purchases, geopolitical uncertainty, and inflows into ETFs.”
www.barrons.com
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