PRECIOUS-Gold Breaks $2,600 Barrier as Fed Cut Bets Prolong Historic Run

GOLD - Gold soared above the $2,600 level on Friday for the first time, extending a rally boosted by bets for further U.S. interest rate cuts, and rising tensions in the Middle East.

Spot gold was up 1.3% at $2,620.26 per ounce by 11:55 a.m. ET (1555 GMT), while U.S. gold futures rose 1.2% to $2,645.90. Silver gained 1.4% to $31.21.