Gold near 5-week low as rate-cut optimism tapers

Gold prices hovered near five-week lows on Thursday, as hawkish remarks from Federal Reserve officials and robust data dampened investors' expectation for deeper and early interest rate cuts in U.S. this year. U.S. gold futures rose 0.2% to $2,010.70. The dollar has strengthened substantially in the past few days, putting a strain on gold prices, Brian Lan at the Singapore based dealer GoldSilver Central, said.