Commodity Roundup: ING says gold to avg. $2,081/oz in 2024; oil set for a weekly gain

News Snapshot:

Gold prices inched higher at the start of the month of Friday, and were set for a second-consecutive week of gains, as gold bugs hoped for the possibility of a June rate cut after data showed that core-PCE slowed annually. ING expects gold prices to trade higher this year as safe-haven demand continues to be supportive amid geopolitical uncertainty with ongoing wars and the upcoming US election. Forecasts prices to average $2,150/oz in the fourth quarter and $2,081/oz in 2024, even as investment demand for gold is yet to rebound. Spot gold (XAUUSD:CUR) was up +0.57% at $2,054.86 an ounce...