Gold price poised for biggest quarterly gain since 2016
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Gold price is set for a 14% quarterly gain, the highest since January 2016; Spot gold down 0.3% to US$2,648.88 per ounce; US gold futures rose 0.1% to US$2,671.00; Record high of US$2,685.42 reached on September 26, 2024; Driven by US Fed's half-percentage-point rate cut, China's stimulus measures, and Middle East conflict; UBS analyst Giovanni Staunovo predicts gold could rise to US$2,900 per ounce in 12 months; Investors await US ADP employment and non-farm payrolls data; Fed Chair Jerome Powell and Governor Michelle Bowman to speak; Spot silver down 0.6% at US$31.43 per ounce; Silver set for 8% quarterly rise; Platinum down 1.3% to US$986.93; Palladium down 0.4% to US$1,006.94 but on track for quarterly gain.

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