Gold Set for Fourth Week of Gains on US Rate Cut Prospects

GOLD - SINGAPORE. Gold prices fell on Friday, but were on track for a fourth straight weekly gain as expectations that the Federal Reserve will cut interest rates in September lifted bullion's appeal.

Spot gold was down 0.8% to $2,425.48 per ounce by 0511 GMT. It has risen 0.6% so far this week, and hit an all-time high of $2,483.60 on Wednesday.