Gold to End Volatile Week Higher as Fedspeak Trims Rate-Hike Bet

Gold prices stabilized after gaining over 2% on Thursday, buoyed by comments from a Federal Reserve official that reduced market expectations for an imminent interest-rate hike. The reduced probability of rate increases helped support gold prices as the week drew to a close. Lower anticipated rate hikes typically benefit gold, as they reduce the opportunity cost of holding the non-yielding asset.