LONDON: Gold moved lower on Tuesday on buoyant global equities and as the dollar strengthened after upbeat US data, while the market continued to monitor international political tensions.

Palladium steadied near a 13-year high of $900 an ounce hit in the previous session, supported by worries about supplies from top producer Russia and strong demand prospects. Prices were unchanged at $888.75 an ounce by 1440 GMT.

Spot gold, higher initially, fell 0.1 per cent to $1,296.50 an ounce. The metal traded in a small $8 an ounce range, indicating low volumes.

US gold futures for December delivery were down 0.2pc at $1,297.50 an ounce.

Gold was also pressured by a return in risk appetite that saw equity markets rise on easing international political tensions.

Published in Dawn, August 20th, 2014