LONDON: Gold rose on Friday as concerns about Deutsche Bank triggered a sharp sell-off in equities that undermined risk appetite, and mixed US data indicated that the Federal Reserve might be cautious about raising interest rates. Spot gold was up 0.47 per cent at $1,326.26 an ounce by 1337 GMT.

US gold futures were up 0.29pc at $1,329.80 an ounce. A report that a number of hedge funds had withdrawn excess cash from Deutsche Bank reinforced worries about Germany’s biggest lender.

Silver was up nearly 3pc at $19.61 an ounce. Platinum was up more than 1pc at $1,034.24 an ounce and palladium was up nearly 2pc at $724.40. Palladium touched a 7-week high of $725.10 on Friday.

Published in Dawn, October 1st, 2016