Gold dips

Published April 18, 2018

LONDON: Gold fell on Tuesday as sharper appetite for risk benefited cyclical assets at bullion’s expense, with the dollar’s recovery from three-week lows versus the euro adding to pressure on the metal.

Gold rallied to a 2-1/2 month high last week as heightened tensions over Syria and US sanctions on Russia sparked a drop in equities and ratcheted up interest in nominally defensive assets.

Those gains, however, have proved hard to maintain.

Spot gold was down 0.4 per cent at $1,341.23 an ounce at 1350 GMT, while US gold futures were down 0.5pc at $1,343.80. “All this noise we’ve been witnessing as of late, whether it is trade disputes or Syria, has not really moved gold on a sustainable basis,” Julius Baer analyst Carsten Menke said.

Among other precious metals, silver was up 0.6pc at $16.70 an ounce, while platinum was 0.4pc higher at $930.50.

Palladium was up 0.1pc at $1,002.80 an ounce, recovering from an earlier low of $980.75. The metal hit its strongest since March 1 on Monday at $1,012.10 an ounce.

Published in Dawn, April 18th, 2018

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

High troop losses
24 Dec, 2024

High troop losses

THE outgoing year has been marked by a resurgence in terrorism, particularly by the banned TTP, with an upsurge in...
Energy conundrum
24 Dec, 2024

Energy conundrum

THE onset of cold weather in the country has brought with it a familiar woe: a severe shortage of piped gas for...
Positive cricket change
24 Dec, 2024

Positive cricket change

HEADING into their Champions Trophy title defence, Pakistan are hitting the right notes. Mohammad Rizwan’s charges...
Internet restrictions
Updated 23 Dec, 2024

Internet restrictions

Notion that Pakistan enjoys unprecedented freedom of expression difficult to reconcile with the reality of restrictions.
Bangladesh reset
23 Dec, 2024

Bangladesh reset

THE vibes were positive during Prime Minister Shehbaz Sharif’s recent meeting with Bangladesh interim leader Dr...
Leaving home
23 Dec, 2024

Leaving home

FROM asylum seekers to economic migrants, the continuing exodus from Pakistan shows mass disillusionment with the...