SINGAPORE, May 24 (Reuters): Gold prices rose on Friday, but were headed for their first weekly fall in three as expectations for interest rate cuts began to fade following the hawkish tone adopted in the US Federal Reserve's latest minutes.
Spot gold rose 0.54 per cent to $2,340.95 per ounce, as of 1018 GMT, after hitting its lowest since May 9 earlier. Bullion hit a record high of $2,449.89 on Monday, but has fallen about 5 per cent since then.
US gold futures was up 0.21 per cent at $2,342.10.
Spot silver rose 1.4 per cent to $30.53. It hit a 11-year high on Monday.
Platinum edged 0.4 per cent higher to $1,023.20 and palladium gained 0.2 per cent to $971.05. All three metals were headed for weekly losses.
Gold prices gain
FE Team | Published: May 24, 2024 21:11:18
Gold prices gain
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