LONDON: Gold rose on Tuesday as European shares fell 1 per cent and the greenback hit its lowest in over a month versus the euro, after final week’s gentle US progress knowledge dented expectations for a close to-time period rate of interest hike.
Platinum group metals continued to shine, with platinum reaching its highest since April 2015 and palladium hitting a 14-month peak.
Spot gold was up zero.9pc at $1,364.39 an oz at 1405 GMT, whereas US gold futures for December supply have been up $eleven.eighty an oz at $1,371.forty.
Gold is very delicate to US rates of interest, which carry the chance value of holding non-yielding bullion, whereas boosting the greenback, through which it’s priced.
Holdings of the world’s largest gold-backed change-traded fund, SPDR Gold Shares, rose 5.9 tonnes on Monday, its largest one-day influx since late June.
Platinum was 1.2pc greater at $1,171.20 an oz on Tuesday. Palladium was zero.9pc greater at $719.10 an oz.
Silver was up 1.6pc at $20.seventy three an oz.
Revealed in Daybreak, August third, 2016
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