• Gold rallies amid safe-haven demand after stocks fall


    Gold rose on Tuesday as global equities pushed investors into safe havens such as gold, despite the expectations of the new US interest rate that is going to increase this year, which put pressure on the market.

    Gold in spot rose 0.3 percent to $ 1342.95 an ounce by 0722 GMT after rising 0.5 percent on Monday.

    Prices fell 1.2 percent on Friday, the biggest drop since Dec. 7, 2017. This drop came after the US jobs data showed in higher than expectations, which boost speculation that rising inflation will lead to further interest rate hikes this year that in turn boosted the yellow metal dollar. Gold futures for April delivery rose 0.7 percent to $ 1345.60 an ounce.

    Among other precious metals, spot silver rose 0.9 percent to $ 16.89 an ounce. The metal was down 3.7 percent on Friday, its biggest daily drop since December 2016.

    Platinum rose 0.6 percent to $ 995.60 an ounce, while palladium lost 1.4 percent to $ 1015.40 an ounce after hitting its lowest level since Dec. 14, 2017.

    Palladium rose to an all-time high of $ 1138 an ounce on January 15, supported by strong demand from the auto sector and a shortage of supply.​

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