|Published : 17 Oct 2016, 15:52:18|
Gold prices up on bargain hunting
Gold prices rose slightly on Monday as bargain hunters used dips to accumulate the precious metal. The US dollar pared gains on the day.
Spot gold rose as much as 0.5 per cent to $1,256.11, and was up 0.4 per cent at $1,254.60 an ounce at 0729 GMT.
The yellow metal fell nearly 0.6 per cent on Friday to a low of $1,247.01, its lowest since Oct. 7.
US gold futures were flat at $1,255.60 an ounce.
The dollar index, which measures the greenback against a basket of currencies, was flat at 98.016 after touching a high of 98.169.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.40 per cent to 965.43 tonnes on Friday.
Silver was up 0.4 per cent at $17.44 a ounce.
Platinum rose 0.9 per cent to $941. It touched an over 7-month low of $923.50 on Friday.
Palladium was up 0.6 per cent at $648.10, after hitting nearly a three-month low of $629.22 in the previous session, according to a news agency report.