The price of gold fell over the weekend. But he stayed on track for a weekly gain. The prospects of a reduction in borrowing costs by the US Federal Reserve have driven down the dollar and treasury bond yields.

Spot gold was down 0.1% at $2,033.29 per ounce at 0113 GMT. U.S. gold futures rose 0.1% to $2,047.60. However, bullion has increased by 1.5% since the start of the week. The Fed left interest rates unchanged on Wednesday and Chairman Jerome Powell said the historic tightening of monetary policy is likely over, with a discussion of future borrowing cost cuts “in sight

Cash silver fell 0.3% to $24.07 per ounce, while platinum fell 0.2% to $956.21 and palladium fell 0.4% to $1,098.13.