Gold rose above $2,770 an ounce on Friday, hitting its highest level since October, just shy of a record high of $2,790, after President Trump called for an immediate interest rate cut. That boosts gold's appeal as a safe haven, with lower interest rates making the non-yielding precious metal more attractive. Traders continued to flock to the safe haven asset, remaining cautious amid uncertainty over the impact of Trump's proposed tariffs and immigration policies. A weaker U.S. dollar also supported the uptrend. Meanwhile, investors are eyeing upcoming policy announcements from global central banks. The BoJ is widely expected to raise interest rates on Friday, while the Fed is widely expected to leave rates on hold next week, and the ECB is widely expected to cut rates. For the week, gold is set to mark its fourth straight weekly gain. (AL)
Source:Trading Economics
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