Gold held its strong quarterly gains on Friday as traders weighed a flurry of economic news and remarks from Federal Reserve officials.
Gold for June delivery settled $3.20, or 0.3%, higher at $1,251.20/oz. The precious metal was up 8 percent for the quarter.
Consumer sentiment in the U.S. improved by less than initially estimated in the month of March, the University of Michigan revealed in a report on Friday.
The report said the consumer sentiment index for March was downwardly revised to 96.9 from the preliminary reading of 97.6. Economists had expected the index to be unrevised.
U.S. personal income rose in line with economist estimates in the month of February, although personal spending inched up by slightly less than expected.
The report said personal income increased by 0.4 percent in February after climbing by an upwardly revised 0.5 percent in January.
St. Louis Fed President James Bullard issued some dovish commentary today, in contrast to recent remarks from colleagues hinting that rate hikes are imminent.
"It's okay to raise rates a little bit but I don't think we need a major adjustment at this juncture in order to stay on track and keep inflation near target," Bullard said in an interview on Bloomberg Television.
"This is not an environment where the data is screaming at the Fed that you have to move," Bullard said.
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March 31, 2017 at 11:48PM
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