Metals Stocks: Gold on track for weekly gain as Fed reinforces rate-cut hopes

Gold futures were little changed Friday, on track for a weekly gain after Federal Reserve Chairman Jerome Powell did nothing to dispel expectations for a rate cut later this month and the U.S. dollar came under renewed pressure.

Gold for August delivery on Comex GCQ19, +0.12% was off 60 cents, or less than 0.1%, at $1,406.10 an ounce, and was on track for a weekly rise of 0.4%. September silver SIU19, -0.11% was off 6.1 cents, or 0.4%, at $15.085 an ounce, but on track for a 0.6% weekly rise.

Gold gave up a modest early gain after data showed U.S.

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