LONDON: Gold rebou­nded from the previous session’s nine-month lows on Wednesday as the dollar index pulled back from early highs in the wake of US jobs data, taking pressure off precious metals.

Spot gold had recovered to $1,215.95 an ounce at 1358 GMT, up 0.6 per cent, after earlier slipping to within 10 cents of the previous day’s nine-month low at $1,204.40. US December gold futures were up $4.90 an ounce at $1,216.50.

Markets in top bullion buyer China are closed for a week from Wednesday for the National Day holiday, weakening support for gold during Asian trading hours and potentially accelerating a fall below $1,200.

Silver was up 2.1pc at $17.26 an ounce, while spot palladium was down 0.1pc at $769.60 an ounce.

Published in Dawn, October 2nd , 2014