Gold slips

September 12, 2019

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LONDON: Gold prices fell to their lowest level in nearly a month on Tuesday, as rising bond yields and the dollar dented the allure of safe-haven assets.

Spot gold was down 0.4 per cent at $1,492.20 per ounce as of 1:44 pm EDT (1744 GMT), having earlier hit its lowest level since Aug 13, at $1,486. US gold futures settled 0.8pc lower at $1,499.20 per ounce.

US Treasury yields climbed to a multi-week peak, tracking German bonds, as hopes of easing US-China trade tensions and expectations of fiscal stimulus measures by global central banks buoyed risk sentiment.

Elsewhere, platinum dropped 1.3% to $934.45 per ounce, after nearing the $1,000 mark last week.

Silver rose 0.9pc to $18.12 per ounce and palladium rose 0.9pc to $1,557.92.

Published in Dawn, September 12th, 2019