Gold’s relentless rally got an added jolt this week from the Federal Reserve’s long-awaited interest-rate cut, but some analysts are beginning to wonder if the pool of potential buyers could begin to run dry.

Gold pulled back from a record high after Federal Reserve Chairman Jerome Powell signaled policymakers aren’t in a rush to aggressively lower interest rates following Wednesday’s half percentage point cut by the US central bank.

Gold hovered near record levels on Friday and was on track for a weekly gain after the U.S. Federal Reserve's recent oversized interest rate reduction and on signs that further cuts were on the horizon.