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A large quarterly increase in gold
Spot gold increased 0.2 percent to USD1,818.70 per ounce by 2:17 p.m. on the final trading day of 2022, according to Reuters, while U.S. gold futures finished at USD1,826.2 unchanged.
The non-yielding metal is expected to end the year with its best quarter since June 2020, largely to expectations for fewer interest rate increases from the U.S. Fed after a decline from record highs earlier this year. Gold prices increased on Friday.
Despite the fact that the U.S. central bank’s two rate increases in September caused gold to reach a more than two-year low, the price of bullion is only down about 0.5 percent in 2022.
According to economists cited by Reuters, the market mood will be determined by how central banks throughout the world respond to growing inflation until the year 2023.
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