Gold poised for third weekly gain on Fed rate cut bets

Gold held firm near a five-week high on Friday and was set for a third straight week of gains, as U.S. inflation data released earlier this week raised expectation that the Federal Reserve might cut interest rates further this year.Spot gold was flat at $2,715.09 per ounce, as of 0332 GMT. Bullion has gained about 1% so far this week.