Gold on Thursday was headed for its biggest quarterly gains since the coronavirus pandemic-led surge in mid-2020 as concerns over soaring consumer prices and the Ukraine crisis bolstered bullion’s safe-haven appeal. Spot gold XAU= was up 0.4 percent at $1,940.95 per ounce by 12:22 p.m. EDT (1622 GMT). For the month, bullion was up about 1.7 percent. U.S. gold futures GCv1 rose 0.4 percent to $1,946.90. “The geopolitical situation has been dragging for a month now and inflation data continues to rise. So the overall sentiment in this market right now is people looking for safety,” RJO Futures senior market strategist Bob Haberkorn said. Gold is considered a safe investment during times of political and financial uncertainty. Data showed U.S. consumer spending slowed significantly in February, while price pressures continued to mount, with the largest annual spike in inflation since the early 1980s. Russia’s invasion, which began on Feb. 24, …