AGL 42.00 Increased By ▲ 3.46 (8.98%)
AIRLINK 129.90 Increased By ▲ 0.40 (0.31%)
BOP 5.75 Increased By ▲ 0.14 (2.5%)
CNERGY 4.03 Increased By ▲ 0.17 (4.4%)
DCL 8.74 Increased By ▲ 0.01 (0.11%)
DFML 40.98 Decreased By ▼ -0.78 (-1.87%)
DGKC 88.88 Increased By ▲ 0.58 (0.66%)
FCCL 35.09 Increased By ▲ 0.09 (0.26%)
FFBL 66.55 Decreased By ▼ -0.80 (-1.19%)
FFL 10.77 Increased By ▲ 0.16 (1.51%)
HUBC 109.05 Increased By ▲ 0.29 (0.27%)
HUMNL 14.84 Increased By ▲ 0.18 (1.23%)
KEL 4.76 Increased By ▲ 0.01 (0.21%)
KOSM 7.27 Increased By ▲ 0.32 (4.6%)
MLCF 42.85 Increased By ▲ 1.20 (2.88%)
NBP 61.00 Increased By ▲ 1.40 (2.35%)
OGDC 180.00 Decreased By ▼ -3.00 (-1.64%)
PAEL 25.90 Decreased By ▼ -0.35 (-1.33%)
PIBTL 6.10 Increased By ▲ 0.13 (2.18%)
PPL 146.50 Decreased By ▼ -0.20 (-0.14%)
PRL 23.85 Increased By ▲ 0.24 (1.02%)
PTC 16.65 Increased By ▲ 0.09 (0.54%)
SEARL 71.68 Increased By ▲ 3.38 (4.95%)
TELE 7.30 Increased By ▲ 0.07 (0.97%)
TOMCL 36.54 Increased By ▲ 0.59 (1.64%)
TPLP 8.02 Increased By ▲ 0.17 (2.17%)
TREET 15.09 Increased By ▲ 0.89 (6.27%)
TRG 50.75 Increased By ▲ 0.30 (0.59%)
UNITY 27.41 Increased By ▲ 0.66 (2.47%)
WTL 1.25 Increased By ▲ 0.04 (3.31%)
BR100 9,867 Increased By 61.2 (0.62%)
BR30 29,807 Increased By 129.3 (0.44%)
KSE100 92,807 Increased By 502.8 (0.54%)
KSE30 28,946 Increased By 105.3 (0.37%)

Gold prices inched higher on Tuesday, with investors waiting for minutes from the US Federal Reserve's last meeting for clues on the outlook for potential rate rises. The minutes of the meeting, when it kept interest rates unchanged, will be released on Wednesday. Spot gold was up 0.3 percent at $1,280.46 per ounce, as of 0840 GMT. The metal fell about 1.4 percent on Monday in its biggest one-day percentage drop since September 11.
US gold futures for December delivery gained 0.4 percent to $1,280.10. "Given the fact that the December rate hike is almost a done deal, market watchers will look more closely at what is the Fed rhetoric for post-December," said OCBC analyst Barnabas Gan. Higher interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding non-yielding bullion.
Spot gold may break support at $1,274 per ounce, and fall towards the October 6 low of $1,260.16, according to Reuters technical analyst Wang Tao.

Comments

Comments are closed.