LONDON: Gold traded near its lowest in nearly six years on Thursday as the dollar held at multi-month highs after US economic data reinforced expectations of an interest rate rise this year.

The US currency was also supported against the euro, weighing on dollar-denominated gold, as European Central Bank officials told Reuters they were considering options such as whether to stagger charges on banks hoarding cash or to buy more debt. The ECB meets next week.

Spot gold was unchanged on the day at $1,070.76 an ounce by 1505 GMT, not far off the $1,064.95 hit last week, its lowest since February 2010.

Silver was up 0.6 per cent at $14.24 an ounce.

Platinum rose 1.6pc to $852 after hitting a seven-year low in the previous session, while palladium gained 0.9pc to $559.

Published in Dawn, November 27th, 2015