Gold prices rise on weakening dollar; silver heading towards best week since Sept

    <p>Gold prices edged higher on Friday, poised for weekly gains as the dollar weakened. Spot gold climbed 0.4% to $1,188.93 per ounce, while U.S. gold futures for December delivery remained stable at $1,191.90. With the dollar index heading for its second weekly decline, gold became more appealing to investors holding other currencies.</p>

    <p>This week's upward momentum stemmed from dollar softening and speculative bets anticipating potential U.S. Federal Reserve rate cuts. Brian Lan of GoldSilver Central noted how dollar weakness and speculative activity influenced prices. However, recent cautious remarks from Fed officials about December rate cuts caused gold to retreat slightly. Persistent inflation concerns and signs of labor market stability following previous rate reductions have tempered expectations for aggressive monetary easing.</p>

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          <img class="lazy imgPhoto full" src="https://data1.ibtimes.co.in/en/full/819216/us-dollar-may-no-longer-be-sole-anchor-global-currency-rupee-remains-strong.jpg?h=450&amp;l=50&amp;t=40" alt="US dollar may no longer be sole anchor in global currency, rupee remains strong" title="Gold prices rise on weakening dollar"/>
          <p><figcaption class="mimgcaption"><span class="cap">Gold prices rise on weakening dollar<span class="credit"><span class="credit-pic"/>IANS</span></span></figcaption></p>
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    <p>Markets now price in a 51% chance of a December rate cut, down from 64% earlier. Gold's appeal as a non-yielding asset typically strengthens during low-rate periods and economic uncertainty. The resolution of the 43-day U.S. government shutdown has eased investor concerns, resuming critical economic data releases.</p>

    <p>Silver mirrored gold's movement, jumping 1.2% to $52.95/oz and heading for its strongest weekly gain since September 2024 at 9.6%. Platinum rose 1% to $1,596.24/oz while palladium gained 1.2% to $1,443.55/oz.</p>

    <p>In summary, gold found support from dollar weakness this week as markets weighed the Fed's rate policy outlook. Precious metals broadly advanced, with silver, platinum, and palladium posting gains. Traders will continue monitoring Fed guidance and economic indicators, which will likely drive gold's near-term direction amid shifting policy expectations.</p>
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