Gold rose, on track for a fourth monthly gain, on heightened expectations for another interest-rate cut in the US. Silver advanced to within a dollar of a record.
Gold was trading around $4,190 an ounce on Friday, up nearly 5% for the week. A series of comments by Federal Reserve officials and the release of delayed economic data have supported the case for lower borrowing costs, which typically benefit gold as it doesn’t pay interest. Swap traders are pricing in a more-than-80% chance of a quarter-point cut in December.