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Gold prices set for first weekly rise in a month as investors scale back Fed rate hike bets
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- Spot gold prices rose by 1.4% on Friday morning, putting the precious metal on track for its first weekly gain in five weeks after coming under sustained pressure this year.
- ET, spot gold was trading at around $4,182.28 an ounce and on course for a 2.3% weekly gain – which would be its first weekly rise since late May.
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Spot gold prices rose by 1.4% on Friday morning, putting the precious metal on track for its first weekly gain in five weeks after coming under sustained pressure this year.
By 4:30 a.m. ET, spot gold was trading at around $4,182.28 an ounce and on course for a 2.3% weekly gain – which would be its first weekly rise since late May. Front-month U.S. gold futures were up by 1.5% on an intraday basis.
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