Spot gold was little changed at USD 1,057 an ounce by 0028 GMT, after dropping 1.2 percent in the previous trading session. The metal was within striking distance of USD 1,052.46, the lowest since February 2010, reached on Friday.
metals, silver, platinum and palladium were all heading for weekly declines. Silver was down 1.2 percent at USD 14.08 an ounce, platinum was down 1.9 percent at USD 834.25, not far off a seven-year low hit
holiday on Thursday.Silver was down 0.6 percent at USD 14.12 an ounce, having hit a six-year low of USD 13.86 earlier this week.Platinum was trading just above a seven-year low, down 0.1 percent at USD 839
Watch the interview of Aurobinda Prasad Gayan, Vice President - Research, Kotak Commodities with Nigel D'Souza and Reema Tendulkar on CNBC-TV18. He spoke about the current trend in commodities markets.
Expectations are growing that the United States will hike interest rates next month, which has pushed the dollar to its highest in half a year against a basket of currencies, making precious metals more expensive for holders of other currencies.
million.* That's almost 10 times the 300-lot average for the opening 10 minutes over the past two months, according to Reuters calculations* Silver, platinum and palladium all gained about 1 percent each