Bullion up about 4 for the quarter
U.S. PCE data due at 1230 GMT
Silver and platinum set for quarterly gains
June 28 Reuters Gold prices eased on Friday, but were set for a third straight quarterly rise, while investors looked forward to U.S. inflation data due later in the day for more clarity on the Federal Reserve39;s interest ratecut timeline.
Spot gold was down 0.2 at 2,323.53 per ounce, as of 0536 GMT. Prices have gained about 4 for the quarter.
U.S. gold futures fell 0.1 to 2,334.50.
Gold is up on the quarter, largely as the scope for monetary easing in the U.S. has increased … China also bought large amounts of gold for their reserves, which helped offer support in the second quarter, said Ilya Spivak, head of global macro at Tastylive.
After adding to its gold reserves for 18 consecutive months, official data from the People39;s Bank of China PBOC showed its holdings were flat in May. A survey by the World Gold Council, however, found that more central banks may increase gold reserves within 12 months.
Gold rose more than 1 in the previous session after data showed a continued, though moderate, slowdown in U.S. economic activity. Currently, the market sees a 64 chance of a first Fed cut in September, according to the CME FedWatch tool, opens new tab.
However, Fed Governor Michelle Bowman reiterated on Thursday that she is not ready yet to support a central bank rate cut with inflation pressures still elevated.
The U.S. personal consumption…