Gold Posts Fourth Monthly Rise on Fed Rate Cut Hopes

GOLD - NEW YORK. Gold prices eased on Friday as investors digested U.S. inflation report that was largely in line with estimates, although expectations that the Federal Reserve will cut interest rates this year kept bullion on track for its fourth straight monthly gain.

Spot gold gave up earlier gains to trade down 0.7% at $2,326.90 per ounce as of 1:50 p.m. ET (1750 GMT). U.S. gold futures settled 0.9% lower at $2,345.8.