Gold rises as Fed rate-cut prospects dent dollar, bond yields

Gold prices reach one-week high after US Federal Reserve signals lower borrowing costs in 2024, causing dollar and Treasury yields to tumble; Spot gold up 0.2 per cent at USD 2,031.28 per ounce; US gold futures jump 2.4 per cent to USD 2,045.50; Fed's dovish pivot supports gold prices, weakens US dollar; Fed officials project lower policy rate by end of 2024; Dollar falls to two-week low, making gold cheaper for other currency holders; Markets price in 73 per cent chance of rate cut in March; Other central bank decisions awaited.

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