LONDON: Gold rose on Wednesday, recovering from the previous day’s seven-week low, after Federal Reserve Chair Janet Yellen suggested the central bank was in no rush to raise interest rates.

Her comments weighed on the dollar, supporting gold. Spot gold was at $1,205.05 at 1446 GMT, up 0.5 per cent, after hitting a peak of $1,211.8 an ounce. US gold futures for April delivery were up $7.8 an ounce at $1,205.1.

Silver was up 1.9pc at $16.52 an ounce. Spot platinum was up 0.5pc at $1,163.5 an ounce, while spot palladium was up 1.3pc at $801.05 an ounce.

Published in Dawn February 26th , 2015

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