America News Agency

Spot gold was down 0.2 percent at $2,653.38 per ounce as of 0404 GMT, owing to a rise in the U.S. dollar. A stronger dollar makes gold less attractive for other currency holders. Gold has risen slightly over 14 percent this quarter, its best since January 2016.

Gold has added 6 percent 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. U.S. gold futures rose 0.3 percent to $2,674.80.

In other metals, spot silver was down 0.4 percent to $31.49 per ounce, following a 12-year peak reached on Thursday and is set for a quarterly rise of 8 percent. Platinum edged 0.1 percent lower to $999.35 and palladium rose 0.1 percent to $1,012,50. Both metals are headed for quarterly gains.

This week’s data lineup includes U.S. ADP employment figures and nonfarm payrolls, which may provide further clarity about the condition of the U.S. labour market. Later in the day, speeches from Fed Chair Jerome Powell and Governor Michelle Bowman are also expected.

Data on Friday showed that the U.S. economy retained some solid momentum in the third quarter while inflation pressures continued to abate. This boosted expectations of another outsized interest rate cut at the Fed’s November policy meeting. Zero-yield bullion tends to be preferred in a low-interest-rate environment and during geopolitical turmoil.

Israel on Sunday launched airstrikes against the Houthi militia in Yemen and dozens of Hezbollah targets throughout Lebanon after earlier killing the Hezbollah leader.