Gold prices eased on Monday but hovered near the record peak hit last week, setting bullion on track for its best quarter in over eight years following a jumbo US rate cut decision and expectations of another outsize reduction in November. Spot gold was down 0.2% at $2,653.38 per ounce, owing to a rise in the US dollar. Bullion has risen slightly over 14% so far this quarter, its best since January 2016. On a monthly basis, gold has added 6% 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. In other metals, spot silver was down 0.4% to $31.49 per ounce. Platinum edged 0.1% lower to $999.35 and palladium rose 0.1% to $1,012,50. Both metals are headed for quarterly gains. Source: Qatar News Agency
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