Gold headed for a fourth weekly gain on expectations the Federal Reserve is poised to lower US interest rates, with prices aided by inflows into bullion-backed exchange traded funds.
Bullion rose toward US$3,650 ($4681.26) an ounce, up almost 2% this week, after setting a record in Tuesday’s session. Silver, which can move in tandem, topped US$42 an ounce to hit the highest since 2011. On Thursday, data showed US consumer prices rose as expected in August, handing Fed policymakers the leeway to reduce borrowing costs after a string of weak labour-market prints.
