Gold Set for Weekly Gain on Fed Rate Cut Boost

GOLD - SINGAPORE. Gold lingered near record high levels on Friday and was on track for a weekly gain after the Federal Reserve's recent super-sized interest rate reduction and on signs that further cuts were on the horizon.

Spot gold rose 0.2% to $2,592.17 per ounce, as of 0309 GMT, up about 0.6% for the week so far.