LONDON: Gold traded little changed on Thursday, with the impact of a steadier dollar offset by lower global shares alongside uncertainty about Greece and an unexpected rise in US jobless claims.

Spot gold was down 0.1 per cent at $1,185.86 an ounce by 1454 GMT, after falling to a two-week low of $1,180.50. US gold futures for June delivery were unchanged at $1,185.30 an ounce.

Gold is usually seen as a hedge against political and financial risk, though the impact on demand from wider political worries is usually short-lived. In the physical markets, China’s net gold imports from main conduit Hong Kong tumbled to an eight-month low in April, data showed.

Silver was down 0.3pc at $16.63 an ounce, having hit its lowest since May 13 at $16.55 on Wednesday.

Published in Dawn, May 29th, 2015

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