Gold prices slipped to around $4,600 per ounce on Friday, extending Thursday’s modest losses amid reduced safe-haven demand and fading expectations of a near-term interest rate cut by the Federal Reserve. Geopolitical risks in Iran temporarily eased after President Donald Trump indicated he may delay any military action, following Iran’s pledge not to execute protesters. Trump also said on Thursday that he had been informed the country’s crackdown on protests was easing. Additionally, strong US economic data released on Thursday prompted investors to scale back bets on imminent interest rate cuts. Markets expect the Fed to keep rates unchanged later this month, with the next fully priced cut shifting from June to July. Despite the pullback, gold has gained more than 2% so far this week, marking its second consecutive weekly increase and remaining within record levels.
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