Gold jumps 1.3pc

Gold jumps 1.3pc

Gold jumps 1.3pc LONDON: Gold jumped 1.3 per cent on Friday as the dollar retreated further after US retail sales data were unexpectedly flat in July.

Friday’s unchanged reading for last month suggested consumer spending was cooling after the second quarter’s brisk 4.2pc rate of increase.

Spot gold rose to a session high of $1,355.80 an ounce and was up 1pc at $1,352.11 by 1330 GMT.

Platinum rose 0.7pc to $1,148 an ounce, after falling 3pc in the previous session. Palladium rose 0.4pc to $688.45 and was set to finish the week with a modest loss.

Spot silver gained 0.2pc to $20.15 an ounce.

Source: http://www.dawn.com/news/1277187/gold-jumps-13pc

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