Gold and silver hovered near record highs, after slower-than-expected inflation in the US supported bets for more interest-rate cuts.
Spot gold was near $4,330 an ounce by mid-morning in London on Friday, and on track for a second weekly gain. The core US consumer price index rose at the slowest pace since early 2021, according to data released on Thursday, bolstering the case for lower borrowing costs – a tailwind for non-yielding precious metals.