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Gold rises on weaker dollar; platinum group metals surge

Spot gold had risen 1.1% to $1,354.44, spot palladium surged 7.4% to $746.10


Gold rose more than 1% on Wednesday as the dollar fell on lower expectations for a U.S. rate hike after weaker economic data, while platinum and palladium climbed to their highest in over a year. Spot gold had risen 1.1% to $1,354.44 an ounce by 0653 GMT, after gaining 0.4% in the previous session. U.S. gold was up 1% at $1,360.60 an ounce. Spot palladium surged 7.4% to $746.10 an ounce, the highest since June 2015. Platinum was up 2.4% at $1,177.80, after rising to $1,182.20, its loftiest in over 16 months. "The overall trend is positive in platinum group ...

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First Published: Wed, August 10 2016. 12:48 IST