Key Points
(Reuters) Gold prices were heading for their best quarter in more than eight years on Friday, having hit a series of record highs in recent sessions as the start of U.S. monetary easing boosted the appeal of non-yielding bullion...
With bets on more rate cuts in future after last weeks half-percentage-point cut by the Federal Reserve, speculative demand for the metal has driven gold to oversold technical levels..
You could see a breakdown in Middle East peace talks, the labour market deterioration could continue, Fed could cut rates by another 50 bps, and China could add more stimulus, these factors will support the gold market, Streible added...
Gold exchange-traded funds (ETFs) that are backed by the physical metal, a key pillar of demand, saw modest net inflows last week and are yet to fully contribute to the rally, though analysts expect more activity from ETFs in coming months...
Modest ETF inflows are a good start, but with economic uncertainty still on the horizon, said John Reade, senior market strategist at the World Gold Council...
