Gold Eyes Second Weekly Gain on US Rate Cut Optimism

GOLD - NEW YORK. Gold prices were set to post a second consecutive weekly gain on Friday as recent softer U.S. economic data kept traders optimistic for interest rate cuts later this year, with other precious metals also heading for a weekly gain.

Spot gold was up 0.2% at $2,363.06 per ounce, as of 0953 GMT, after hitting a two-week high earlier in the session.