Gold rose to a three-month high on Thursday, extending to a fourth straight day of gains, as a dollar drop and expectations of easy monetary policies underpinned gold's inflation hedge appeal. Profit taking weighed on platinum price, which eased after touching a five-month peak earlier in the session as a damaging strike in major producer South Africa ground on.
Spot gold was up 0.2 percent at $1,780.06 an ounce by 3:32 pm EST (2032 GMT), having earlier rose to a three-month high of $1,787.11. US COMEX gold futures for April delivery settled up $15 at $1,786.30 an ounce, with volume about 25 percent below its 30-day average, preliminary Reuters data showed. Silver was up 3.3 percent at $35.40.
Spot platinum eased 0.1 percent on the day to $1,719 an ounce, having gained more than 10 percent in the last month on market expectations for disruptions to South African supply. Palladium was down 0.8 percent at $713.40 an ounce, having earlier tracked platinum up to a five-month high at $722.75 an ounce.
Comments
Comments are closed for this article.