Gold holds its ground

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LONDON: Gold hovered just below a 13-month high on Tuesday, supported by a weaker dollar and lower global shares after Chinese trade data fuelled concerns about the state of global demand.

China’s February exports slumped 25.4 per cent from a year earlier while imports dropped by 13.8pc.

Spot gold was unchanged at $1,266 an ounce by 1506 GMT, within reach of Friday’s peak of $1,279.60, its highest since Feb. 3 last year.

Spot silver dropped 1.4pc to $15.40 an ounce, while spot platinum was down 0.1pc at $994.99 after hitting a four-month high in the previous session.

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