LONDON: Gold eased on Wednesday as a rebound in stocks and the dollar arrested a four-day rally, with uncertainty over the timing of a looming US rate hike limiting price moves ahead key US non-farm payrolls data on Friday.

The metal retreated from early highs as European shares rose and US stocks opened up almost 1 per cent, rebounding from the previous day’s steep losses after fresh intervention from China helped calm jittery investors.

It also came under pressure from strength in the dollar, which rose 0.4pc against a basket of currencies. Spot gold was down 0.4pc at $1,135.51 an ounce at 1437 GMT, while US gold futures for December delivery were down $4.80 an ounce at $1,135.00.

Among other precious metals, silver was down 0.1pc at $14.55 an ounce, palladium was up 1.1pc at $573.47 and platinum was up 0.8pc at $1,007.24.

Published in Dawn, September 3rd, 2015

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