LONDON: Gold rose on Thursday as the dollar weakened after a 10-day winning streak and investors took the opportunity to buy bullion as a hedge against political uncertainty in the United States and Europe.

Spot gold rose 0.7 per cent to $1,241.18 an ounce by 1557 GMT and is up about 10 pc from a mid-December low.

Earlier in the session gold touched $794.90, its highest since Jan 24 and just shy of a 21-month high. The metal used in emission-controlling catalytic converters for the automotive industry has risen 17 pc this year.

Silver was up 0.3 pc at $18.04 an ounce. Platinum was 0.6 pc higher at $1,016.

Published in Dawn February 17th, 2017