Show Quick Read Summary is AI-generated, newsroom-reviewed

Gold held steady below $4,000 an ounce on Friday and was set for an eighth straight weekly gain, buoyed by lingering geopolitical and economic tensions and increased expectations of further U.S. rate cuts.

Spot gold slipped 0.2% to $3,968.69 per ounce by 0340 GMT, but was up 2.2% for the week. U.S. gold futures for December delivery rose 0.3% to $3,982.6.

Silver rose 0.3% to $49.25 per ounce, easing from the record high of $51.22 hit on Thursday.

"Options markets revealed a rise in volatility alongside downside protection for gold during the final stages of this rally, and it seems a good a time as any for gold bulls to book some profits. Still, I expect any pullback could be limited," City Index senior analyst Matt Simpson sa

See Full Page