Gold prices are likely to rise for the third consecutive week on Friday, benefiting from signals of interest rate cuts by the Federal Reserve this year and the demand for safe-haven assets amidst geopolitical and economic uncertainty. On Thursday, gold reached a historic high of $3057.21 per ounce, accumulating a rise of about 1.5% so far this week. "Due to the strong dollar, gold prices slightly declined during the Asian session today," said Kelvin Wong, Senior Market Analyst at OANDA Asia Pacific. On Wednesday, the Federal Reserve kept the benchmark interest rate within the range of 4.25%-4.50% as expected. Policymakers anticipate that the central bank will implement two 25 basis point rate cuts before the end of the year. Federal Reserve Chairman Powell stated after the policy meeting that President Trump's initial policies appear to have led the US economy towards a slowdown in growth, while also temporarily increasing inflation. Additionally, uncertainty in the Middle East situation is rising. "All the fundamental factors supporting the continued rise in gold prices are present," said Kyle Rodda, Financial Market Analyst at Capital.com. "Before maintaining the upward trend, gold prices may return to the $3000 range for consolidation."