Gold headed for best year since 2020 on Fed rate cut prospects

London, Dec. 29 (BNA): Gold prices gained on Friday and were headed for their best year in three, supported by expectations that the U.S. Federal Reserve could begin easing its monetary policy as early as March next year.


Spot gold rose 0.02% to $2,065.29 per ounce by 1003 GMT. U.S. gold futures , however, lost 0.4% to $2,074.40 per ounce, Reuters reported.


Bullion has risen about 14% so far this year, heading for its biggest annual gain since 2020 after prices surged to an all-time high of $2,135.40 on Dec. 4.


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