Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023.
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 U.S. rate cut decision and expectations of another outsized reduction in November.
Spot gold was down 0.2% at $2,653.38 per ounce, as of 0404 GMT, owing to a rise in the U.S. dollar .
A stronger dollar makes gold less attractive for other currency holders.
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.
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