Gold held firm near a five-week high on Friday and was set for a third straight week of gains, as U.S. inflation data released earlier this week raised expectation that the Federal Reserve might cut interest rates further this year.

Gold prices firmed on Friday (Jan 17) and were headed for a third straight week of gains after US data this week hinted that the Federal Reserve might continue easing interest rates this year. Read more at The Business Times.

Spot gold was steady at $2,715.21 an ounce, lingering close to a peak that was reached on Thursday that lasted more than a month.

Gold prices extended gains on Wednesday, as the dollar dipped after U.S. core inflation data came in softer than expected, abating inflation pressures and rekindling expectations that the Federal Reserve's easing cycle may not be over yet.

Vietnam gold bar price rose 0.34% to VND87.3 million (US$3,445.15) per tael Friday morning while global rates stood at their highest in over a month.

Gold prices firmed near one-month highs hit earlier on Thursday after a softer-than-expected core U.S. inflation print increased chances of two Federal Reserve rate cuts this year, with the first likely in June.

Following the US Fed rate cut buzz on soft US core inflation data, MCX gold rate registered gains during early morning deals on Thursday. Gold futures contract on Multi Commodity Exchange (MCX)m for February 2025 expiry opened flat at ₹78,

Front-month gold futures surged to their largest gain in nearly a month, after U.S. core inflation data came in softer than expected, easing inflation pressures and renewing hopes that the Federal Reserve may implement multiple rate cuts this year after all.