LONDON: Gold prices edged up from one-year lows on Friday after US President Donald Trump expressed concern about the strength of the dollar and interest rate increases by the Federal Reserve, pushing the greenback lower.

Spot gold was up 0.1 per cent at $1,224.04 an ounce at 1209 GMT and US gold futures were flat at $1,223.90 an ounce. But gold was still down 1.4pc this week, with little sign of an end to the slide in prices that has knocked more than 10pc off gold’s value since mid-May.

In other precious metals, silver was up 0.4pc at $15.33 an ounce but still down about 2.8pc this week. Palladium was 1.6pc higher at $883.72 an ounce but set for a weekly loss of around 5.6pc. Platinum had gained 1.7pc to $818.10 an ounce and was down around 1pc this week.

Published in Dawn, July 21st, 2018