Gold tops $4000, heads for 8th straight weekly gain

Gold futures climbed back above $4000 per ounce on Friday, heading for an eighth straight weekly gain after touching a record high of $4081 earlier this week. The rally was driven by growing expectations of US rate cuts and persistent economic uncertainty. However, strength in the US dollar capped some gains, with the dollar index hovering around 99 and on track for a nearly 2% weekly rise, its strongest advance in a year. New York Fed President John Williams said he was open to another rate cut, though inflation risks could complicate the outlook, echoing the cautious tone in the latest FOMC minutes. The prolonged US government shutdown, now in its second week, has delayed key data releases and kept investors on edge. On the MCX, December bullion futures traded higher by 0.4% at ₹120955 per 10 grams.

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