Gold Set for Second Weekly Gain With Inflation, Dollar in Focus
- Breakeven inflation rate falls ahead of Fed meeting next week
- Stock volatility, geopolitical tensions may be supporting gold
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Gold headed for a second consecutive weekly gain, even as an advance in inflation-adjusted bond yields diminishes the appeal of the non-interest bearing asset.
Bullion is fluctuating near a key resistance level of about $1,835 an ounce, after a decline in nominal bond yields from a two-year high helped gold advance earlier in the week. On Friday, the metal was weighed down for a second day by a drop in market-based measures of inflation that raises the real return of Treasuries as it generates no interest.