Gold Heads For Biggest Weekly Gain Since March On Rate Outlook

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US EditionChevron DownMenuSubscribeMarketsFacebookXLinkedInEmailLinkGiftFacebookXLinkedInEmailLinkGiftGift this articleContact us:Provide news feedback or report an errorConfidential tip?Send a tip to our reportersSite feedback:Take our SurveyNew WindowFacebookXLinkedInEmailLinkGiftBy Ranjeetha Pakiam, Felix Njini and Andrea BossiJuly 29, 2022 at 12:58 AM UTCUpdated on July 29, 2022 at 6:04 PM UTCBookmarkSaveLock This article is for subscribers only.

Gold headed for its biggest weekly gain since March amid speculation that the Federal Reserve will slow the pace of interest rate increases as the US economy slows.

Bullion’s climb, supported by a weaker dollar and declining Treasury yields, saw prices hit a three-week high and puts the haven asset on pace for a second straight weekly gain. While the Fed raised rates by 75 basis points again this week, data showing that the US is in a technical recession signaled that the central bank could become less aggressive as it continues to combat inflation.

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