LONDON: Gold rose on Thursday as volatility in other markets stoked “safe haven” buying, including of bullion funds.
Spot gold was up 0.5 per cent at $1,234.41 an ounce by 1454 GMT, heading for a third straight day of gains.
“Gold has put in a very good performance and the fact that we are seeing higher lows and higher highs points to a bullish scenario,” MKS head of trading Afshin Nabavi said.
“Overall buying is safe-haven related … if we can stabilise around $1,250, a broader range of investors will come in,” he added.
Among other precious metals, silver eased 0.9pc to $15.08 an ounce, platinum dipped 1pc to $931.55 and palladium rose 0.2pc to $487.20.
Courtesy : Dawn News