Gold prices rise for second consecutive week, silver and platinum rise more than 5.5%

Gold prices rose for a second straight week on Friday as expectations for a rate cut improved, providing support for gains in silver and platinum. Silver and platinum rose by more than 5.5% and 6% respectively this week. Kinesis Money market analyst Rank Watson said signs that inflation may be slowing raise the possibility of interest rate cuts in the coming months, which tends to support gold and silver prices. On the demand side, expectations for continued strong demand in China were boosted after the country announced additional measures to stabilize the property market.