LONDON: Gold prices fell on Tuesday, under pressure from a stronger dollar ahead of an annual meeting of central bankers this week, while speculative buying pushed palladium to its highest since February 2001.

Spot gold was down 0.2 per cent at $1,288.39 an ounce at 1342 GMT. That compares with last week’s peak at $1,300.8, its highest since early November. US gold futures slid 0.5pc to $1,290.60 an ounce.

Silver gained 0.6pc to $17.07 an ounce, and platinum slipped 0.3pc to $974.8. Palladium was down 0.4pc at $934.75.00 an ounce, after earlier touching $940. “Pal­ladium has been pushed up by speculative funds, there is nothing in the fundamentals to justify these levels,” a precious metals trader said.

Published in Dawn, August 23rd, 2017