Bitcoin (BTC) Price Prediction: Could BTC Double and Hit $200K Soon?

Bitcoin BTC/USD could more than double its price in the near future, according to a prediction from BCA Research.

input: Gold Price Today: XAU/USD edges lower on upbeat US data, set for biggest weekly gain in 3

output: Gold futures edged lower on Friday, pressured by upbeat U.S. economic data, but were set for their biggest weekly gain in three on hopes of slower interest rate hikes by the Federal Reserve.

Spot gold was down 0.1% at $1,780.36 per ounce by 09:40 ET (14:40 GMT). U.S. gold futures fell 0.2% to $1,781.00.

For the week, bullion was up about 1.2%, putting it on track for its biggest weekly percentage gain since the week of Oct. 25.

Gold prices have risen sharply since hitting a more than two-and-a-half-year low in September, as hopes of slower U.S. interest rate hikes and a weaker dollar boosted bullion demand.

While gold is seen as an inflation hedge, higher interest rates dull the metal's appeal as they increase the opportunity cost of holding non-yielding bullion.

Earlier this week, the Fed raised its benchmark overnight lending rate by 25 basis points to a target range of 4.50% to 4.75%, its highest level since March 2008.

However, the central bank signaled a smaller rate increase of 50 basis points at its next meeting in December and said that ultimately rates would need to rise higher than previously anticipated.

Data on Friday showed U.S. consumer spending rose more than expected in October, while annual inflation slowed for a third straight month, both of which bode well for the economy's outlook.

Among other precious metals, silver rose 0.4% to $21.30 an ounce, set for a weekly gain of about 2.2%.

Platinum fell 0.2% to $1,020.54, on track for a weekly decline of 0.4%. Palladium gained 0.4% to $1,917.83 and was headed for a weekly gain of about 2.3%.output