Gold prices eased on Monday but hovered near the record peak hit last week, setting bullion on track for its best quarter in over eight years following a jumbo US rate cut decision and expectations of another outsize reduction in November.
Spot gold was down 0.2% at $2,653.38 per ounce, owing to a rise in the US dollar.
Bullion has risen slightly over 14% so far this quarter, its best since January 2016.
On a monthly basis, gold has added 6% in September after hitting another record high of $2,685.42 on Thursday in a rally driven by the Federal Reserve’s half-percentage-point cut, China’s stimulus measures and ongoing Middle-East war concerns.
In other metals, spot silver was down 0.4% to $31.49 per ounce.
Platinum edged 0.1% lower to $999.35 and palladium rose 0.1% to $1,012,50. Both metals are headed for quarterly gains.
Source: Qatar News Agency