Gold prices near record, set for weekly gains on Fed rate-cut boost


GOLD hovered near record levels on Friday and was on track for a weekly gain after the U.S. Federal Reserve's recent oversized interest rate reduction and on signs that further cuts were on the horizon.

Spot gold rose 0.3% to $2,593.79 per ounce, as of 0539 GMT, up about 0.7% for the week so far.

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