LONDON: Gold prices fell on Wednesday as the dollar held near a multi-month high buoyed by interest from investors seeking cover from sliding stocks and by prospects for higher US interest rates.

Spot gold was down 0.1 per cent at $1,201.08 per ounce at 1251GMT. Prices had slipped to their lowest since Oct 11 at $1,195.90 in the previous session.

US gold futures were flat at $1,201.4 per ounce.

Gold, usually considered a safe investment during times of political or economic uncertainty, has fallen about 12 per cent from a peak in April as investors flocked to the dollar instead, with US-China trade friction unfolding against a background of higher US interest rates.

Among other precious metals, silver was unchanged at $13.98 per ounce, having matched its lowest since Jan 21, 2016, at $13.85.

Palladium fell 0.1pc to $1,109.20 per ounce, while ­platinum was down 0.8pc at $828.50 an ounce.

Published in Dawn, November 15th, 2018