BENGALURU: Gold rose to its highest in two weeks on Friday after weak US economic data compounded concern over a global slowdown and dialled down the chances of the US Federal Reserve raising interest rates this year.

Spot gold was up 0.4 per cent at $1,317.96 an ounce at 1214 GMT, having touched its highest since Feb. 1 at $1,319.22, keeping prices on track for a small weekly gain.

In other precious metals, palladium was up 0.5pc at $1,422.44 an ounce, on track for a second consecutive weekly gain. Platinum gained 0.5pc to $789.69 but was set for a second straight weekly fall. Silver firmed by 0.1pc to $15.64 but was also heading for its second weekly decline, down about 1pc so far.

Published in Dawn, February 16th, 2019