Gold Poised for Third Weekly Gain on Fed Rate Cut Bets

GOLD - SINGAPORE. Gold held firm near a five-week high on Friday and was set for a third straight week of gains, as U.S. inflation data released earlier this week raised expectation that the Federal Reserve might cut interest rates further this year.

Spot gold was flat at $2,715.09 per ounce, as of 0332 GMT. Bullion has gained about 1% so far this week.