Gold set for weekly gain on Fed pause bets
The U.S. Senate is on track to pass a bill to lift the government’s $31.4 trillion debt ceiling late on Thursday, Democratic Majority Leader Chuck Schumer said, adding, “We are avoiding default tonight.”
Markets now see a 79.6per cent chance of rates remaining unchanged in June. Gold, which does not yield any interest of its own, loses appeal when interest rates rise. (Image credit: Reuters)