BENGALURU: Gold prices fell on Tuesday, as the dollar recovered slightly from lows and hopes for a trade deal between China and the United States whetted risk appetite, making bullion less attractive.

Spot gold slipped 0.5 per cent to $1,282.15 per ounce as of 1303 GMT. US gold futures were also 0.5pc lower at $1,283.90 per ounce.

Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, saw some outflows on Monday. But holdings are still at their highest since August 2018.

In other precious metals, palladium fell 1.2pc to $1,284.49 per ounce, after hitting a record high of $1,313.24 in the previous session. The metal was trading at a premium to gold. Silver edged 0.3pc lower to $15.59 per ounce, while platinum fell 0.6pc to $817, having hit its highest in more than a month at $831.10 on Monday.

Published in Dawn, January 9th, 2019