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Gold higher

Gold higher

LONDON: Gold rose 2 per cent, silver hit a 10-month high and platinum climbed to its highest in six months on Tuesday, as the dollar weakened after US data came in below forecast.

US housing starts fell more than expected in March and permits for future home construction hit a one year low, suggesting some cooling in the housing market in line with signs of a sharp slowdown in economic growth in the first quarter.

Gold touched a one week high of $1,256.80 an ounce and was up 1.7pc at $1,252.26, while platinum rose 3.4pc to its highest since Oct 23 at $1,013.71.

Silver climbed 5.2pc to $17.07, its highest since June 2015, before stabilising with a 4.2oc gain at $16.90.

Global equities climbed on Tuesday, but that did not dampen demand for gold.

Palladium gained 2.9pc to $583.84 an ounce.

Courtesy : Dawn News



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