Gold heads for the third quarter of gains amid anticipation of US inflation data

Gold prices fell today, Friday, but are heading to record an increase for the third quarter in a row, at a time when investors are awaiting US inflation data scheduled to be released later today in search of more indications about the path of interest cuts that the Federal Reserve (the US central bank) may follow.

Gold in instant transactions fell 0.3% to $2,321.18 per ounce by 03:54 GMT. Prices rose by about 4% during this quarter. US gold futures also fell 0.2% to $2,331.90, according to Reuters.

“Gold rose during the quarter, largely due to improved prospects for monetary easing in the United States… China also bought large amounts of gold for its reserves, which provided support in the second quarter,” said Ilya Spivak, head of global macroeconomics at Tasty Live.

The US personal consumption expenditures price index, the Fed’s preferred measure of inflation, is scheduled to be released at 12:30 GMT.