LONDON: The price of gold fell from the previous day’s three-week peak on Wednesday as the dollar surged to a two-week high against the euro, and European share prices jumped after upbeat Chinese trade data allayed concerns over its economy.

Silver defied weakness in other precious metals to climb to a new 5-1/2 month high, however, after a break through key chart resistance at $16 an ounce set it up for further gains.

Spot gold was down 0.6 percent at $1,248.00 an ounce at 1443 GMT, while US gold futures for June delivery were down $11.20 an ounce at $1,249.70.