LONDON: Gold rose 1 per cent on Tuesday, recovering from near six-year lows as news that Turkish fighter jets had shot down a Russian-made warplane near the Syrian border sparked a rush to safety among investors, weighing on the dollar.
The metal remained under pressure, however, from expectations the Federal Reserve will press ahead with its first interest rate rise in nearly a decade next month.
Spot gold peaked at $1,080.51 and was up 0.7pc at $1,077.30 an ounce at 1457 GMT. US gold futures for December delivery were $9.30 an ounce higher at $1,076.10.
The US dollar fell as investors piled into safe-haven currencies on concerns about rising tension between Russia and Turkey, shrugging off positive US economic data.
Silver was up 1pc at $14.22 an ounce, while palladium was 0.2pc higher at $538 an ounce. Platinum was up 0.2pc at $842 an ounce, off an earlier low of $831.80 an ounce.
Published in Dawn, November 25th, 2015
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