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Gold Set for Fourth Weekly Gain Amid Easing Inflation, Fedspeak

  • US year-ahead inflation expectations fall; edge up longer-term
  • Metal eyes best stretch of weekly advances in about a year
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WATCH: Federal Reserve Bank of San Francisco President Mary Daly discusses the state of the US economy and its implications for monetary policy.Source: Bloomberg
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Gold headed for its fourth straight weekly gain as traders weighed further signs of easing inflationary pressures and hawkish remarks by Federal Reserve officials.

US consumer sentiment rose in early August to a three-month high on firmer expectations about the economy and personal finances. Inflation expectations were varied, with consumers boosting their longer-term views for prices slightly, while reducing their year-ahead outlook.