Gold set for best quarter in six as Ukraine crisis stokes demand

4.1.22 - Stagflation Requires a Defensive Portfolio

Gold last traded at $1,923 an ounce. Silver at $24.61 an ounce.

NEWS SUMMARY: Precious metal prices eased back Friday as rising interest rates boosted the dollar. U.S. stocks rose as investors assessed a new quarter of trading and a troublesome bond market recession indicator.

CNBC--"Gold prices were set for their biggest quarterly gain since September 2020 on Thursday, as the Russia-Ukraine conflict lifted demand for the safe-haven metal. The metal has gained about 5.6% so far in the quarter and 1% in the month.

Ukrainian forces are preparing for new Russian attacks in the east of the country as Moscow builds up its troops there after suffering setbacks near the capital Kyiv, President Volodymyr Zelenskyy said on Thursday.

The dollar index slipped to a near one-month low in the previous session, making gold less expensive for other currency holders.

U.S. Treasury yields fell while a key part of the yield curve steepened on Wednesday, unwinding recent moves betting that aggressive Federal Reserve policy tightening could send the world's largest economy into recession."