LONDON: Gold fell on Thursday as the dollar cut losses after US data showed economic momentum was improving, but the downside was limited by signs the Federal Reserve was unlikely to raise interest rates in June.

Spot gold was down 0.2 per cent at $1,206.18 an ounce by 1518 GMT, while US gold futures for June delivery were down 0.1pc at $1,205.80 an ounce.

Outflows in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, continue to undermine investor sentiment. Holdings of the fund fell 0.41pc to 715.26 tonnes on Wednesday, the lowest in four months.

Silver was up 0.2pc at $17.12 an ounce. Platinum was down 0.7pc at $1,150.96 an ounce and palladium rose 0.2pc to $774.10 an ounce.

Published in Dawn, May 22nd, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play