AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Gold prices danced again to the tune of the dollar on Thursday in Europe, as financial markets awaited key US payrolls data due to be released on Friday.
Prices drifted either side of unchanged, tracking moves in the dollar, which edged higher against major currencies.
Traders and analysts expected spot gold to stay in a $385-398 range, barring any significant currency moves, although some felt it was preparing a break out to target $400 an ounce.
By 1425 GMT, spot gold was at $391.30/391.80 a troy ounce, scarcely changed from New York's late quote on Wednesday of $391.70/392.20.
"Gold, in common with many financial markets, remains in torpor ahead of Friday's non-farm payrolls data release," John Reade, precious metals analyst with UBS Investment Bank said.
Traders were waiting for the release on Friday at 1230 GMT of July non-farm payrolls, the last major indicator before the Federal Open Market Committee's meeting on August 10.
"Gold increasingly looks as if it is forming a base ready for another move higher although if tomorrow's data is much stronger than expected and the dollar rallies through immediate overhead resistance, all bets are off," Alan Williamson, metals analyst with HSBC, said in a daily report.
Economists have forecast a rise of 228,000 jobs in July, accelerating from a gain of 112,000 in June.
Simon Weeks, director precious metals with ScotiaMocatta, noted that gold had attracted good physical buying last week when it fell back to $385.
"Whether that will be there again if we were to come down remains to be seen," he said. "For now I think 88-98 ($388-398) covers it. I don't see us going too far one way or the other."
Heightened security worries around the world were still underpinning gold.
"A collapse just doesn't seem realistic because of the current tensions in the world. I don't think in this environment that anyone is going to sell gold heavily," one trader said.
Silver took a breather after the previous day's strong performance, when prices jumped to their highest in 3-1/2 months.
The latest rally has been fuelled by speculative buying and several traders felt they could be back for more, especially given firm base metals prices.
"I wouldn't be surprised if they don't have another go before the end of the week," Weeks said. "But then it could take a bit of a tumble."
Silver peaked at $8.43 in early April. Spot was trading unchanged at $6.68/6.71.
Platinum fell to $825.00/830.00 an ounce from $831.50/836.50, while palladium dipped to $210.00/215.00 from $213.00/218.00.

Copyright Reuters, 2004

Comments

Comments are closed.