"Gold Prices Slide as Rate Cut Optimism Fades and Volatility Looms"

Gold is set for its biggest weekly decline in six weeks, down 1% so far, as optimism for an early rate cut by the Federal Reserve diminishes. Speculation about the timing of rate cuts has impacted gold prices, with traders now expecting a 47% chance of a rate cut in March, down from 71% last week. The dollar's strength has also made gold more expensive for foreign currency holders. Additionally, gold buying in India has been lackluster due to a correction in local prices.