The largest weekly gain for gold since March. Bullion prices rise.

Speculation that the Federal Reserve may limit the pace of interest rate hikes as the US economy slows led to gold’s largest weekly gain since March.

Bullion prices reached a three-week high as a result of its rise, which was fueled by a weaker dollar and falling Treasury yields. This puts the haven asset on track to post a second consecutive weekly gain. Data indicating that the US is in a technical recession warned that the Fed could become less aggressive as it continues to fight inflation, even if it raised rates by 75 basis points again this week.