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US gold prices surge amid rate cut bets

US Spot gold climbs 0.3%, set for third weekly gain.October data influences Fed rate cut speculation.Treasury yields modestly up, reflecting Fed bets.Markets await Powell’s impact on gold’s path.

Gold prices are poised for a third consecutive weekly gain, buoyed by indications of cooling inflation and growing expectations of a U.S. rate cut. Spot gold increased by 0.3% to $2,042.58 per ounce early Friday, marking an approximately 2% weekly rise. U.S. gold futures mirrored this trend, also up by 0.3%.

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