BENGALURU: Gold prices scaled a more than six-month peak on Thursday as fears of a global economic slowdown embellished safe-haven demand for bullion, with a weaker dollar adding further support.

Spot gold was up 0.3 per cent at $1,288.49 an ounce at 1237 GMT, having touched its highest since June 15 at $1,292.32.

US gold futures traded up 0.5pc at $1,290.40. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose to 795.31 tonnes, their highest since early August, indicating investor appetite for the precious metal.

Among other precious metals, palladium gained 0.3pc to $1,258.40 an ounce while silver was up 0.3pc at $15.56 and platinum shed 0.4pc to $791.30.

Published in Dawn, January 4th, 2019