Pakistan News

Gold higher

Gold higher

LONDON: Gold edged above a three-week low on Thursday, following its biggest drop in over a month on Wednesday, as the dollar eased after weaker-than-expected US economic data.

Spot gold was up 0.1 per cent at $1,187.88 an ounce by 1423 GMT, after touching its lowest since April 1 at $1,183.65.

The metal fell 1.3pc on Wednesday, its biggest single-day decline since March 6, pressured by a stronger dollar after US home resales surged to their highest level in 18 months in March.

US gold futures for June delivery were flat on the day at $1,186.70 an ounce.

Spot silver was unchanged at $15.76 an ounce, after falling to a one-month low on Wednesday. Platinum fell 0.3pc to $1,128 an ounce and palladium rose 0.8pc to $759.50 an ounce.

Published in Dawn, April 24th, 2015

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