Gold at a Comparative High

Written by  Published by:Pakistan Views Tuesday, 25 August 2015 10:21

LONDON: Gold edged higher on Monday to trade near a seven-week top as the dollar and shares tumbled on concerns about the Chinese economy and uncertainty over the timing of a US rate rise.

Platinum dropped 3pc and palladium hit its lowest in three years at $563.72 an ounce.

Spot gold rose 0.2pc to $1,162.80 an ounce by 1421 GMT, within reach of its highest since July 7 at $1,168.40 hit on Friday. It gained more than 4pc last week, the most since mid-January.

Gold has now rebounded more than 7pc from a 5-1/2-year low of $1,077 reached in late July.

Spot silver dropped 2.1pc to $14.98.

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