Gold near 8-week high

Gold prices on Wednesday were near eight-week highs reached in the previous session after economic data raised expectations that the US Federal Reserve is near the end of its interest rate hiking, reports Reuters.
Spot gold eased 0.2 per cent at $1,973.69 per ounce by 1200 GMT, slightly pressured as the US dollar bounced back from 15-month lows. US gold futures also fell 0.2 per cent to $1,977.30 per ounce.
Prices hit their highest since May 24 at $1,984.19 before settling about 1.2 per cent higher on Tuesday.
The outlook for next week's Fed meeting has not changed, but the latest jobs data and inflation figures have begun to anticipate rates could be cut in early 2024, Carlo Alberto De Casa, external analyst at Kinesis Money, said.
Among other metals, spot silver slipped 0.3 per cent to $25 per ounce, while platinum lost 0.5 per cent to $977.59. Palladium dipped 2.5 per cent to $1,286.21 per ounce.