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Gold ticked up on Thursday, helped by a softer dollar and Federal Reserve Chair Janet Yellen's caution over US interest rate hikes, and was set to record its best quarter in nearly 30 years. Bullion rallied sharply this year as worries over global economic growth and a slowdown in China shook up stock markets, triggering safe-haven demand for the yellow metal.
It has gained 15.6 percent in the first three months of the year, its strongest such performance since the third quarter of 1986. Spot gold had risen 0.2 percent to $1,226.40 an ounce by 0639 GMT. After a near 11-percent rise in February, gold prices are down about 1 percent in March. "It is difficult to get bearish on gold at this stage given that the Fed has made it quite clear that it is reluctant to raise rates, this despite signs that the US economy is doing fairly well," said INTL FCStone analyst Edward Meir.

Copyright Reuters, 2016

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