LONDON: Gold prices fell as much as 1 per cent on Thursday, slipping below the key $1,300 level, as robust economic data from the United States boosted the dollar, taking the sheen off the safe-haven metal.
Spot gold was down 0.7pc at $1,297.70 by 10:29am EDT (1429 GMT) after earlier falling 1pc to $1,294.52. US gold futures were about 0.9pc lower at $1,301.40.
“Gold is under a lot of pressure right now as it lost a critical support at $1,300,” said RJO Futures.
Spot platinum was down 0.2pc at $899 per ounce. Palladium was down 1.2pc at $1,371.30 per ounce, while silver slipped 0.9pc to $15.08.
Published in Dawn, April 12th, 2019
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