LONDON: Gold fell on Friday, retreating further from this week`s three-month high, as US President Donald Trump`s promise of a major tax announcement boosted the dollar and the latest economic data fuelled tall( of a near-term rise in US interest rates.

Disappointment among some buyers at gold`s failure to break above the $1,245 an ounce level it tested twice this week also fed into the pull-back, analysts said.Spot gold was down 0.3 per cent at $1,227.33 an ounce at 1445 GMT, while US gold futures for April delivery were $8.40 lower at $1,228.40. On Wednesday, spot gold reached its highest since mid-November at $1,244.67.

Silver was up 0.5pc at $17.73 an ounce, while palladium was 1.1pc higher at $778.20. Platinum was down 1.4pc at $997.75, having touched its highest since Oct 3 on Thursday at $1,028.50.-Reuters