Gold is on track to post its biggest quarterly gain since September 2020

Gold fell in limited trading on Thursday, but the safe-haven metal is set for its biggest quarterly gain since September 2020, as the Russian-Ukrainian conflict made it more attractive.

And gold fell in spot transactions 0.6 percent to $ 1921.55 an ounce by 0507 GMT.

US gold futures fell 0.7 percent to $1,925.

The metal advanced about five percent since the beginning of the current quarter, and 0.7 percent since the beginning of the month.

“Gold traders are weighing the potential for further gains based on geopolitical risks, possibly inflation, and risky expectations for gold holdings with higher interest rates, and the bottom line is once again that we are back,” said Michael McCarthy, chief strategy officer at Tiger Brokers in Australia. to the middle of the trading range.

Gold is a safe store of value in times of political and financial uncertainty, and is seen as a hedge against rising inflation.

However, higher interest rates increase the opportunity cost of owning the non-returning metal.

Spot silver fell 1% to $24.59 an ounce, but it is on its way to achieving its best quarterly rise since June 2021.

Platinum fell 0.8 percent to $982.22, but it is on track to achieve the largest quarterly gain since March 2021.

Palladium fell 0.3 percent to $2,259.76, but is on track to post its biggest quarterly jump since September 2020.