LONDON: Gold edged up on Monday, as the dollar retreated after weaker-than-expected US data, but stayed close to a one-month low as investors focused on speeches by Federal Reserve officials that could give more clues on potential interest rate increases.
Spot gold was up 0.2pc at $1,218.62 an ounce by 1253 GMT, after touching a session low of $1,208.15, its cheapest since Feb. 23.
The metal lost 3pc last week, its biggest weekly loss since November on speculation that the next US rate increase could come as soon as next month.
Holdings in the SPDR Gold Trust, the world’s largest gold-backed ETF, rose to its highest since December 2013 at 26.48 million ounces on Thursday, the latest available data shows.
Spot silver gained 0.6pc to $15.23 an ounce, palladium fell 0.6pc to $573.30 and platinum was unchanged at $946.50 an ounce.
Courtesy : Dawn News