Skip to main content
The Markets by Proactive
Go to Proactive Australia

Gold & silver

Gold pulls back after US dollar rises

Gold prices retreated after nearly reaching 1,388/oz as safe haven demand waned.

Tensions on the Korean peninsula eased as a South Korean military exercise close to the North Korean border did not provoke a response, prompting investors to opt for riskier assets and sell the yellow metal.

Meanwhile, the US dollar, which is seen as an alternative investment to gold, climbed against the euro today.

Gold last traded at US$1,379/oz.

Platinum rose to US$1,701/oz, while silver declined to US$28.91/oz.

African Barrick Gold (LON:ABG) held steady while fellow gold producer Randgold Resources (LON:RRS) rose marginally.

Silver miner Fresnillo (LON:FRES) and platinum producer Lonmin (LON:LMI) advanced 1.4% and 1% respectively.

Midcaps Aquarius Platinum (LON:AQP), Petropavlovsk (LON:POG) and Hochschild Mining (LON:HOC) were little moved.

Turkey and Saudi Arabia focused explorer KEFI Minerals (LON:KEFI) and South America operating explorer Patagonia Gold (LON:PGD) climbed 11% and 10% respectively.