LONDON: Gold prices fell on Monday from the previous session’s 13-month high as relief that North Korea did not conduct a missile test over the weekend helped to lift global stocks, the US dollar and bond yields.

Spot gold was down 0.9 per cent at $1,334.86 an ounce by 1353 GMT, on track for its biggest one-day drop since July 7. On Friday it touched $1,357.54, the highest since August last year.

Silver fell 0.4pc to $17.86 an ounce, down from Friday’s five-month high of $18.21, while platinum was down 0.8pc at $996.49. Palladium was 0.6pc higher at $939.80 an ounce. Analysts said the metal used by the auto industry in emissions-controlling catalytic converters was benefiting from strong Chinese car sales data but that sales there are likely to weaken.

Published in Dawn, September 12th, 2017