LONDON: Gold rose to a four-month high on Friday and was on track for a fifth straight weekly gain as the dollar fell against the euro on an agreement for a political coalition in Germany. Spot gold was up 0.7 per cent at $1,332.17 an ounce by 1253GMT, having touched its highest since September 15 at $1,333.02.

The precious metal is up 0.9pc this week and set for its longest run of weekly gains since April. U.S. gold futures were up 0.8pc at $1,332.90. Physical gold demand remained lacklustre across top Asian centres this week as buyers were put off by a rally in prices, but an approaching Chinese New Year could reignite appeal for the yellow metal.

Among other precious metals, spot silver rose 1pc to $17.13 an ounce, but was heading for its first weekly loss in five weeks. Platinum rose 1.1pc at $994.70, on track for a fifth straight weekly gain. Platinum is up 2.5pc so far this week. Palladium was up 0.6pc at $1,088.60 after dropping on Thursday to a more than one-week low at $1,075.50.

Published in Dawn, January 13th, 2018

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.