LONDON: Gold rose by nearly 1 per cent on Monday, boosted by lower shares and a softer dollar, leaving the metal well placed to log its best monthly performance in four years as turmoil in wider markets increased its safe-haven appeal.
Spot gold rose to a session high of $1,235.40 an ounce and was up 1pc at $1,234.63 by 1510 GMT. Gold gained 10pc in February, its biggest monthly jump since January 2012.
Bullion has rallied about 15pc this year, rediscovering its role as a shelter for risk-averse investors in the face of tumbling equities and fears of a global economic slowdown.
Assets in SPDR Gold Trust, the world’s top gold-backed exchange-traded fund, rose to 762.41 tonnes on Friday, the highest in about a year.
Among other precious metals, platinum rose 1.1pc to $923.29 an ounce, while silver gained 0.6pc to $14.80 and palladium climbed 2pc to $491.05.
Courtesy : Dawn News