LONDON: Gold and silver prices rallied to their highest since January last year on Friday as the Bank of Japan’s decision the previous day to hold off expanding monetary stimulus weighed on stock markets and the dollar.

Spot gold was up 1.4 per cent at $1,283.20 an ounce at 1400 GMT, having reached a 15-month high of $1,286.36. US gold futures for June delivery were up $19.10 an ounce at $1,285.50.

Silver was up 1.7pc at $17.82 an ounce, having touched its highest since January 2015 at $17.92. The metal has risen 15pc this month and is on track for its biggest monthly rise since August 2013 as it plays catch-up after lagging gold during its first-quarter surge.

Published in Dawn, April 30th, 2016