Gold Hits 1-Week High On Fed Rate Cut Expectations, Middle East Tensions In Focus

Gold prices rose to their highest in a week on Friday, supported as weak U.S. economic data stoked expectations the Federal Reserve would cut interest rates. Investors were also keeping a close eye on tensions in the Middle East after attacks on tankers there stoked U.S.-Iran tensions and raised concerns over supply flows through one of the world’s main sea lanes. Demand for gold often increases during times of political or economic uncertainty as it is widely viewed as a safe-haven asset.
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