LONDON: Gold edged higher on Thursday after hitting its lowest in nearly a week as the dollar pared gains, but analysts said bullion was vulnerable to more losses. Spot gold was up 0.1 per cent at $1,328.27 per ounce by 1323GMT.
Earlier in the session, it touched its lowest since Jan 12 at $1,323.70. US gold futures for February delivery slipped 0.8pc to $1,329 per ounce.
In the previous session, spot gold fell 0.8pc, posting its worst one-day percentage decline since Dec 7 as the dollar bounced from three-year lows.
“Gold continues to trade in lock-step with the dollar,” said Carsten Menke, analyst at Julius Baer in Zurich. In other precious metals, silver gained 0.2pc to $17.05 per ounce and palladium shed 0.6pc to $1,108.60 per ounce. Platinum added 0.3pc to $999.99 per ounce, after touching its highest since Sept 8 at $1,007.60 in the previous session.
Published in Dawn, January 19th, 2018
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