Gold on Track For Its Worst Quarterly Performance Since The End of 2016

Gold rose in volatile trading on Wednesday, March 31st, but the yellow metal is still heading for the biggest quarterly decline since December 2016, with the rise in US Treasury yields and the dollar undermining the charm of safe-haven status in gold.

An increase of 0.1% to $ 1686.65/ounce in spot gold price was seen by 06:59 GMT, after hitting its lowest level since the eighth of March at $ 1677.61 earlier in the session. Gold has fallen by 3% since the beginning of the month and 11.1% during the quarter.

Also, gold rose in futures trading in the United States, by 0.1%, to $ 1686.90/ounce.

The dollar index hit its highest level in nearly five months against its rivals and is on track to record its best month since November 2016.

The US Treasury 10-year yields stabilized near the 14-month peak it reached in the previous session on the way to rise for the fourth consecutive month.