Gold retreats after rally but low interest rate view offers support

New York

GOLD eased on Friday last week as investors cashed in some of the previous day's 2 per cent gains, though expectations that rock-bottom interest rates would persist served to keep prices above US$1,225 an ounce.

Spot gold was down 0.04 per cent at US$1,231.43 an ounce at 2.40 pm EST (1940 GMT), and was on track to finish the week down 0.5 per cent, its first week down in five weeks.