Gold edges higher

Published September 6, 2018

LONDON: Gold prices rose on Wednesday from an 11-day low in the previous session as a US dollar rally appeared to lose steam.

Gold has fallen 1.7 per cent from an Aug 28 high as currency weakness in emerging markets and concerns over global trade disputes strengthened the dollar, making bullion more expensive for buyers with other currencies.

But with the metal still close to a 1 1/2-year low of $1,159.96 an ounce touched last month, there is little room for prices to fall, Julius Baer analyst Carsten Menke said.

In other precious metals, spot silver was up 0.4pc at $14.13 after falling to its lowest since January 2016 at $13.97 in the previous session.

Platinum dropped 0.9pc to $768.99 having hit$761.80, the lowest since Aug 16, on Tuesday.

Palladium was up 0.3pc at $982.47 after touching the highest in 11 weeks at $988.47 on Tuesday.

Published in Dawn, September 6th, 2018

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

IMF’s unease
Updated 24 May, 2024

IMF’s unease

It is clear that the next phase of economic stabilisation will be very tough for most of the population.
Belated recognition
24 May, 2024

Belated recognition

WITH Wednesday’s announcement by three European states that they intend to recognise Palestine as a state later...
App for GBV survivors
24 May, 2024

App for GBV survivors

GENDER-based violence is caught between two worlds: one sees it as a crime, the other as ‘convention’. The ...
Energy inflation
Updated 23 May, 2024

Energy inflation

The widening gap between the haves and have-nots is already tearing apart Pakistan’s social fabric.
Culture of violence
23 May, 2024

Culture of violence

WHILE political differences are part of the democratic process, there can be no justification for such disagreements...
Flooding threats
23 May, 2024

Flooding threats

WITH temperatures in GB and KP forecasted to be four to six degrees higher than normal this week, the threat of...