Gold set for best week in five on renewed US rate-cut hopes

Gold prices firmed on Friday, poised for their best week since early April, following US economic data that boosted bets of an interest rate cut from the Federal Reserve, Reuters said.

Spot gold gained 0.3% to $2,353.43 per ounce by 0450 GMT, hitting their highest in more than two weeks. Prices have risen 2.3% so far this week.

Also, US gold futures rose 0.9% to $2,360.40.

Spot silver rose 0.2% to $28.38, platinum firmed 0.7% to $984.50 and palladium added 0.3% to $970.00. All three metals were up for the week.