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