LONDON: Gold prices fell on Tuesday as renewed expectations of an increase in US interest rates next month pushed the dollar higher.
Spot gold was down 0.6 per cent at $1,230.46 an ounce by 1248 GMT but has still gained more than 6pc since the start of the year.
US gold futures slipped 0.4pc to $1,231.2. The dollar strengthened after Federal Reserve members pointed to the potential for higher US rates next month, making commodities priced in the currency more expensive for non-US buyers.
Silver fell 0.4pc to $17.93 an ounce, platinum lost 0.7pc to $993.11 and palladium ceded 0.7pc to $766.45.
Published in Dawn, February 22nd, 2017
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