AIRLINK 191.54 Decreased By ▼ -21.28 (-10%)
BOP 10.23 Decreased By ▼ -0.02 (-0.2%)
CNERGY 6.69 Decreased By ▼ -0.31 (-4.43%)
FCCL 33.02 Decreased By ▼ -0.45 (-1.34%)
FFL 16.60 Decreased By ▼ -1.04 (-5.9%)
FLYNG 22.45 Increased By ▲ 0.63 (2.89%)
HUBC 126.60 Decreased By ▼ -2.51 (-1.94%)
HUMNL 13.83 Decreased By ▼ -0.03 (-0.22%)
KEL 4.79 Decreased By ▼ -0.07 (-1.44%)
KOSM 6.35 Decreased By ▼ -0.58 (-8.37%)
MLCF 42.10 Decreased By ▼ -1.53 (-3.51%)
OGDC 213.01 Increased By ▲ 0.06 (0.03%)
PACE 7.05 Decreased By ▼ -0.17 (-2.35%)
PAEL 40.30 Decreased By ▼ -0.87 (-2.11%)
PIAHCLA 16.85 Increased By ▲ 0.02 (0.12%)
PIBTL 8.25 Decreased By ▼ -0.38 (-4.4%)
POWER 8.85 Increased By ▲ 0.04 (0.45%)
PPL 182.89 Decreased By ▼ -0.14 (-0.08%)
PRL 38.10 Decreased By ▼ -1.53 (-3.86%)
PTC 23.90 Decreased By ▼ -0.83 (-3.36%)
SEARL 93.50 Decreased By ▼ -4.51 (-4.6%)
SILK 1.00 Decreased By ▼ -0.01 (-0.99%)
SSGC 39.85 Decreased By ▼ -1.88 (-4.51%)
SYM 18.44 Decreased By ▼ -0.42 (-2.23%)
TELE 8.66 Decreased By ▼ -0.34 (-3.78%)
TPLP 12.05 Decreased By ▼ -0.35 (-2.82%)
TRG 64.50 Decreased By ▼ -1.18 (-1.8%)
WAVESAPP 10.50 Decreased By ▼ -0.48 (-4.37%)
WTL 1.78 Decreased By ▼ -0.01 (-0.56%)
YOUW 3.96 Decreased By ▼ -0.07 (-1.74%)
BR100 11,697 Decreased By -168.8 (-1.42%)
BR30 35,252 Decreased By -445.3 (-1.25%)
KSE100 112,638 Decreased By -1510.2 (-1.32%)
KSE30 35,458 Decreased By -494 (-1.37%)

Gold rose on Friday, stabilising after big swings in the previous session when prices jumped as much as 3% before closing lower, as investors reassessed the fallout of the Ukraine crisis and fresh sanctions imposed by the West against Russia.

Palladium resumed its rally, with traders cued in for signals on supply shortfalls that may be triggered by the conflict.

Spot gold rose 0.5% to $1,912.61 per ounce by 0439 GMT, after hitting its highest since September 2020 at $1,973.96 on Thursday. US gold futures fell 0.7% to $1,913.30.

Spot gold may fall into $1,879-$1,886 range

"In the near term, investors are still digesting, still assessing the risks and rewards as a result of the Ukraine invasion and the implications of Western sanctions on Russia," said Margaret Yang, a strategist at DailyFX.

Gold has stabilized back into "normal levels" with investors buying the dips after a volatile overnight US trading session, Yang added. On Friday, Ukrainian President Volodymyr Zelenskiy vowed to stay in Kyiv as his troops battled Russian invaders who are advancing toward the capital in the biggest attack on a European state since World War Two.

"February has proved to be the perfect storm for gold - with inflation, falling stock markets and geo-political uncertainty boosting its safe-haven appeal," said David Jones, chief market strategist at Capital.com.

Exchange-traded funds (ETFs) that invest in gold and other precious metals have seen massive inflows this year.

Auto-catalyst metal palladium gained 2.6% to $2,465.68, after scaling a peak since July 2021 at $2,711.18 on Thursday.

Russia's Nornickel is a major producer of palladium and platinum used in catalytic converters to clean car exhaust fumes, and traders have flagged risks that sanctions on both sides could significantly tighten supplies of the metal.

Spot silver rose 0.5% to $24.32 per ounce, platinum was up 0.5% to $1,062.29.

Comments

Comments are closed.