BENGALURU: Gold prices rose on Monday, with investors seeking safety as equities slipped after weak Chinese trade data dented risk sentiment and rekindled fears of a global economic slowdown.

Spot gold rose 0.5 per cent to $1,293.80 an ounce by 1223 GMT while US gold futures gained 0.4pc to $1,294.50.

The metal is often used as a hedge against economic and political uncertainty.

Spot gold has gained more than 11pc since hitting a 1-1/2-year low in mid-August at $1,159.96.

Gold has also been lifted by a dovish indication from US Federal Reserve Chairman Jerome Powell, who last week reaffirmed that the central bank had the potential to remain patient on monetary policy, downplaying suggestions that interest rates would be raised twice more this year.

Among other precious metals, palladium rose 0.3pc to $1,322.20 an ounce. It hit a record high at $1,342.43 last week.

Platinum dropped 0.9pc to $803.40 while silver slipped 0.1pc to $15.59.

Published in Dawn, January 15th, 2019