LONDON: Gold fell on Wednesday for the third straight day as the dollar edged higher on the back of robust US economic data and an easing in tensions over North Korea. Spot gold had slipped 0.2 per cent to $1,269.34 per ounce by 1300 GMT, continuing to move away from a two-month peak of $1,289.73 touched on Monday.

US gold futures for December delivery dipped 0.4 per cent to $1,275.20 an ounce. Gold had rallied after a war of words between US President Donald Trump and North Korea’s leader about Pyongyang’s development of nuclear missiles. But in an example of how tension has subsided in recent days, Trump praised North Korean leader Kim Jong Un on Wednesday for a “wise” decision not to fire missiles towards the US territory of Guam.

Silver added 0.6pc at $16.69 per ounce and platinum rose 0.9pc to $965.40 per ounce. Palladium gained 1pc to $894.50 after touching its lowest in over a week earlier in the session.

Published in Dawn, August 17th, 2017