LONDON: Gold on Monday extended its biggest weekly gain in five weeks as the US dollar fell against the euro, while US political turmoil fuelled demand for bullion as a safe haven and reduced expectations of rapid US interest rate rises.

Spot gold was up 0.3 per cent to $1,258.72 an ounce at 1442 GMT, while US gold futures were 0.4pc higher at $1,258.80.

In other precious metals, silver was up 1.4pc at $17.05 an ounce, having earlier touched $17.14, its highest since May 1.

Platinum rose 0.3pc to $941.70 and palladium was 0.3pc lower at $757.50.

Published in Dawn, May 23rd, 2017