LONDON: Gold was steady on Monday partly in response to a dip in the dollar, but activity was muted because investors are waiting for a US central bank meeting this week, expected to result in an interest rate increase.

Spot gold was up 0.1 per cent at $1,200.03 an ounce by 1220GMT, after declining as much as 1.3pc on Friday.

US gold futures were up 0.2pc at $1,204 an ounce. Liquidity was thin during Asian trading hours on Monday as markets in Japan and China were closed for a holiday.

Among other precious metals, spot silver rose 0.3pc to $14.30 an ounce. Platinum added 0.3pc to $829.30, after hitting its highest in six weeks at $838.40 on Friday.

Palladium gained 0.7pc to $1,056.80 an ounce after hitting a high of $1,060, the highest since Feb 27.

Published in Dawn, September 25th, 2018