LONDON: Gold fell 1 per cent on Friday, weighed down by gains in the equity markets and the dollar, but fears of a global recession and lack of clarity on the US-China trade war kept bullion on track for a third straight weekly gain.

Spot gold was down 0.6pc at $1,513.66 per ounce as of 12:31 GMT, but is up 1pc so far this week.

US gold futures fell 0.4pc to $1,524.30.

On the technical side, spot gold may fall into a range of $1,483-$1,503 per ounce, according to Reuters technical analyst Wang Tao.

Elsewhere, silver fell 0.4pc to $17.19 per ounce, but was on track for a second consecutive weekly gain.

Platinum fell 0.4pc to $835.56 an ounce, while palladium was steady at $1,444.95 an ounce.

Published in Dawn, August 17th, 2019