Gold heads for biggest weekly gain in 2 months, silver jumps

20-Mar (Reuters) – Gold prices hit two-week highs on Friday and were poised for their biggest weekly jump since mid-January, after the U.S. Federal Reserve’s cautious note on interest rates arrested a dollar rally and sparked broad-based buying of commodities.

The U.S. currency fell as much as 1.8 percent against a basket of major currencies on Friday, after the Fed downgraded its growth and inflation projections earlier in the week, signalling it is in no rush to push borrowing costs to more normal levels.

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