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Gold hits 14-month high

June 15, 2019

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LONDON: Gold hit its highest since April last year on Friday as political tensions in the Middle East and weak economic data from China and the United States pushed it above $1,350.

Spot gold was up 0.7 per cent at $1,351.16 per ounce at 1247 GMT, after hitting its highest since April 2018 at $1,358.04 earlier in the session.

Prices have risen 0.8pc so far this week, keeping the metal on track for its fourth consecutive weekly gain. US gold futures climbed 1pc to $1,356.9 an ounce.

Silver gained 1pc to $15.04, while platinum was up 0.2pc at $808.95. Palladium rose 0.8pc to $1,455.80 after hitting its highest since April 29 at $1,466.05 earlier in the session.

Published in Dawn, June 15th, 2019