Gold Rises 1% to Two-week Peak as Fed Rate Cut Bets Lift Demand

GOLD - GOLD PRICES - Gold prices rose more than 1% on Thursday to their highest level in two weeks, as recent U.S. economic data showing signs of a slowdown in the world's largest economy boosted bets for interest rate cuts from the Federal Reserve this year.

Spot gold was up 1% at $2,351.55 per ounce as of 10:04 a.m. ET (1404 GMT), its highest since June 7. U.S. gold futures rose 0.8% to $2,365.50.