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Gold slips

Gold slips

LONDON: Gold extended losses into a second day on Thursday as a steadier dollar and higher bond yields dented its investment appeal, while uncertainty over the timing of a US rate rise also weighed.

Spot gold fell 0.4 per cent to $1,186.96 an ounce by 1414 GMT, holding below the key $1,200 level for a fifth day. US gold futures for June delivery dropped $4.30 to$1,186.00 an ounce.

Gold has been trading in a relatively narrow trading range of around $80 an ounce between $1,142 and $1,224 since mid-February, compared to a range of around $150 in January.




Silver fell 0.6pc to $16.41 an ounce. Platinum dropped 1pc to $1,131.00 an ounce, while palladium f=declined by 0.4pc at $786.22 an ounce.

Published in Dawn, May 8th, 2015

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