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Gold rebounds as dollar dips

March 09, 2019

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LONDON: Gold on Friday bounced back from multi-week lows and the dollar slipped ahead of a key US jobs report as investors fret over increasing signs of a global slowdown.

Spot gold rose 0.6 per cent to $1,293.17 per ounce as of 1058 GMT. Prices on Thursday hit a low of $1,280.91, which was a whisker away from a more than five-week low hit earlier this week. US gold futures gained 0.6pc to $1,293.70.

In other precious metals, palladium slipped 0.3pc to $1,523.41 per ounce and was on track for its biggest weekly decline since the week ended November 23.

Silver gained 0.7pc to $15.12, after slipping to its lowest since late December in the previous session. Platinum rose 0.8pc to $819.45 per ounce, after touching its lowest since February 19 at $806.50 earlier.

Published in Dawn, March 9th, 2019