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 10,445 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%)

US gold futures briefly rose to an eight-day high early Thursday on fund short covering and scale-up trade buying, but a lack of broader trader interest and some fund selling quickly capped gains. "There has been a lot of action back and forth and we've seen more volume probably than in the last two days," said a COMEX floor broker.
Benchmark June delivery gold was up 40 cents at $429.90 an ounce by 10:35 am on the New York Mercantile Exchange's COMEX division, moving between $428.50 and $431.40, which marked its highest level since March 23. April gained $1.70 to $428.60, dealing within a $426-$429 range.
Much of the early buying was liquidation in the form of speculative short-covering after funds recently made bets the market would sink amid a resurgent dollar, traders said.
Despite a higher euro on Thursday, dealers seemed reluctant to boost gold until Friday's US monthly jobs data yields more clues about future US interest rate increases.
Gold traders barely flinched at remarks by the International Monetary Fund and the US government on possible IMF gold sales to help alleviate Third World debt.
Players also shrugged at word that the European Central Bank sold 47 tonnes of gold, as the sales conformed to a prior agreement and the bank plans no further sales in the coming months.
Spot gold fetched $427.90/8.60 an ounce, above New York's late Wednesday quote at $426.60/7.30. Thursday's afternoon fix in London was at $427.50.
Standard Bank said in a daily note that stiff resistance looms in spot gold at $428, although a break would target the 100-day moving average near $433. It saw support at $422 and the 200-day moving average at $420.
May silver rose 4.8 cents to $7.195 an ounce, trading from $7.11 to a 10-day peak of $7.225. Spot silver reached $7.16/19 versus $7.11/14 previously. It fixed at $7.1875.
July platinum climbed $1.50 to $866.50 an ounce. Spot platinum fetched $866/869. June palladium rose $3 to $203 an ounce. Spot palladium was quoted at $200/203.

Copyright Reuters, 2005

Comments

Comments are closed.