LONDON: Gold prices recovered on Thursday after dropping overnight to their lowest in more than a week, driven down by a strong dollar, which hurt demand for dollar-priced gold, and by soaring stock markets.

The dollar index fell versus a basket of major currencies, after gaining in tandem with 10-year US Treasury yields . They rose on expectations US interest rates will be soon be raised and on investor risk appetite.

Global stocks, which often trade counter to gold, set record highs before stalling in Europe on concern over political turmoil in Spain, the eurozone’s fourth-largest economy.

Published in Dawn, October 20th, 2017