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Gold gains

January 11, 2019

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BENGALURU: Gold prices rose on Thursday as growing expectations that the US Federal Reserve will pause its rate tightening cycle this year and an impasse between US President Donald Trump and Democrats on funding for a border wall weighed on the dollar.

Spot gold was up 0.2 per cent at $1,295.83 per ounce as of 0730 GMT, hovering near Friday’s peak of $1,298.42 —ww a level last seen in mid-June.

US gold futures gained 0.4pc to $1,297.20 per ounce.

Holdings in the SPDR Gold Trust, the world’s largest, rose 0.3pc on Wednesday to their highest since late July.

Among other precious metals, palladium fell about 0.6pc to $1,319.10 per ounce, after scaling an all-time high of $1,342.43 in the previous session. Silver was flat at $15.74 per ounce, while platinum inched up 0.1pc to $825.30.

Published in Dawn, January 11th, 2019

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