Bengaluru — Gold prices edged higher on Friday and were set for a second weekly gain, as safe-haven demand and lower US bond yields lifted the metal’s appeal, while investors look forward to a Federal Reserve meeting for clues to its tightening timeline.
Benchmark US 10-year Treasury yields fell, reducing the opportunity cost of holding non-yielding bullion. All eyes are now on the Federal Open Market Committee meeting scheduled on January 25-26 for any updates on the Fed’s plans for rate hikes amid broadening inflationary risks.
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