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Gold price up in int’l market on strikes against ISIS

Gold price up in int’l market on strikes against ISIS

SINGAPORE: “Gold added to overnight gains on Wednesday as Asian shares retreated, but investors remained cautious,” agencies reported.

As per details, the US-led strikes against militants in Syria failed to sustain the gold prices in international market, even the precious metal is traditionally seen as a safer bet during times of political uncertainty.

Moreover, the tensions in Syria, however, curbed appetite for risk assets, sending Asian shares lower.

Metal                 Last                    Change                 Pct chg

Spot gold         1224.85              2.16                      0.18

Spot silver         17.83                0.09                      0.51

Spot platinum      1331.4                  7                0.53

Spot palladium     818.75             6.75              0.83

Comex gold           1225.6                 3.6               0.29

Comex silver        17.85                  0.071          0.4

Euro               1.2848

DXY                84.682

The above table shows that the spot gold edged up 0.2 percent to $1,216.90 an ounce by 0617 GMT after dropping for two straight days.