Gold sees best quarter since mid-2020

Gold prices were set to wrap up their best quarter since June 2020 on Friday on investor expectations the US Federal Reserve will slow its interest rate hikes after a fast-paced tightening cycle tempered bullion’s safe-haven rally this year.

On the last trading day of 2022, spot gold rose 0.3% to $1,820.00 per ounce by 1227 GMT, while US gold futures were steady at $1,826.00. Gold is expected to remain range-bound due to low market participation, and prices could rise further once it breaks above resistance at $1,840, said Vandana Bharti, assistant vice-president, commodity research at SMC Global Securities.

KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

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