Gold futures climb sharply on Friday to settle at their highest in three weeks, as downbeat U.S. economic data supported the likelihood of Federal Reserve interest-rate cuts this year.
Volatility in the world’s largest bond market has experienced a downward trend in 2024 — a welcome sign for stock investors, as a relatively quiet government-debt market could offer buying opportunities in U.S. equities, according to Ned Davis Research.
The federal budget deficit shrank in the first seven months of the fiscal year, according to the Treasury Department, but this full year’s shortfall is likely to exceed last year’s.