Gold on track for its worst month since August, while palladium bounces back
Precious metal has lost about 1.81% in March, but on a quarterly basis is set for a second straight rise on global slowdown fears and dovish US Federal Reserve
Bengaluru — Gold slipped on Friday and was headed for its worst month since August 2018 as the dollar and equities rose, while palladium bounced back after three straight sessions of sharp selloffs. Spot gold was down about 0.1% at $1,288.74/oz by 5.07 GMT, after declining about 1.51% in the previous session, the most in over seven months. The metal is set for its first weekly fall in four and has lost about 1.81% in March. But on a quarterly basis, gold is on path for a second straight rise, due to a dovish US Federal Reserve and concerns about a global economic slowdown. US gold futures were down 0.1% at $1,288/oz. The dollar was poised for its strongest monthly gain in five, while Asian shares rose on hopes that Washington and Beijing are making progress in trade talks. The world’s two largest economies started the new round of talks on Thursday to end the year-long tit-for-tat tariffs war. “If we have a positive outcome from the trade talks, gold will be under pressure as invest...
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