Spot gold rises and is on track for its first weekly gain since May, according to reports citing market moves tied to expectations for Federal Reserve policy. One outlet reports that spot gold is up 1.3% to $4,174.75 per ounce as of 1:32 p.m. London time. Another outlet attributes the move to traders reducing their expectations of additional Federal Reserve rate hikes. Both accounts link the price action to easing views on the Fed’s likely path for interest rates, which can affect demand for non-yielding assets such as gold. The articles do not provide further details on specific economic data or changes in Fed communication, but both describe the same market theme: expectations for less aggressive tightening. The combination of higher spot prices during the session and improving week-to-date performance reflects shifting rate-hike expectations rather than a company- or supply-specific development in the coverage provided.