Gold set for seventh weekly rise on US rate-cut hopes, government shutdown

Oct 3 (Reuters) – Gold held steady on Friday and was set for a seventh straight weekly gain, buoyed by expectations of further U.S. interest rate cuts this year and worries over the impact of a U.S. government shutdown.
Spot gold was little changed at $3,851.99 per ounce, as of 0247 GMT, after hitting an all-time high of $3,896.49 on Thursday. Bullion has risen 2.4% so far this week.
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U.S. gold futures for December delivery gained 0.2% to $3,874.40.