Gold set for third weekly gain as US rate outlook offsets dollar strength

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Gold steadied as US-Iran ceasefire uncertainty lingered, but the metal stayed on course for a third consecutive weekly climb as investors priced in earlier and deeper US rate cuts, supporting non-yielding bullion, Reuters reports.

Spot gold held its ground at $4,764.54 per ounce by 0532 GMT. The metal, however, has gained 1.8 per cent so far this week.

US gold futures for June delivery fell 0.6pc to $4,787.80.

A file photo of bars of gold. — Reuters/File
A file photo of bars of gold. — Reuters/File

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