This Friday, the gold price was on the verge of its biggest weekly jump in five months. The price is near an all-time high

American gold futures remained stable at $2,164.40. Spot gold was little changed at $2,157.16 per ounce at 0350 GMT, hovering around a record high of $2,164.09 reached in the previous session. Nikos Kavalis, CEO of Metals Focus, said that while the rise in gold is due to short-term speculative activity, mainly fuelled by CTAs (Commodity Trade Advisors) and algorithmic trading, it is mainly the expectation of interest rate cuts in the fairly near future that supports

Platinum fell by 0.3% to $916.30 per ounce, silver fell by 0.1% to $24.29, while palladium rose by 0.5% to $1,039.17. All three metals were ready for a weekly gain.