AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Gold dropped on Monday, after falling by the most in two years in July, as the dollar rose and investors monitored US economic indicators for clues on the timing of a hike in US interest rates. Spot gold was down 0.9 percent at $1,086.06 an ounce by 3:02 p.m. EDT (1902 GMT). The metal hit a low of $1,077 on July 24, its weakest in 5-1/2 years.
It lost almost 7 percent in July, its steepest monthly drop since June 2013, and fell for a sixth straight week last week, its longest retreat since 1999. US gold for December delivery settled down 0.5 percent at $1,089.40 an ounce. Precious metal prices fell along with the 19-commodity Thomson Reuters/Core Commodity CRB Index, which dropped to a 12-year low, erasing almost all the gains of the decade-long commodities "super-cycle." Speculators unleashed more selling on commodity markets on Monday after data showed conditions for Chinese manufacturers deteriorated to their weakest in two years.
The dollar was up 0.1 percent against a basket of leading currencies, cutting some gains after data showed US consumer spending in June recorded its smallest gain in four months. Separately, the pace of growth in the US manufacturing sector slowed in July. Investors have been keeping a sharp eye on economic data as this could influence the timing of the first US interest rate increase in nearly a decade. Nonfarm payrolls on Friday will be closely watched. Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, dropped to the lowest since September 2008 at 21.63 million ounces on Friday. Industrial precious metal prices took a bigger hit than gold. Spot silver was down 2.2 percent at $14.44 an ounce, near last month's six-year low.

Copyright Reuters, 2015

Comments

Comments are closed.