AGL 40.10 Decreased By ▼ -0.90 (-2.2%)
AIRLINK 127.80 Decreased By ▼ -0.34 (-0.27%)
BOP 6.60 Decreased By ▼ -0.10 (-1.49%)
CNERGY 4.60 Increased By ▲ 0.08 (1.77%)
DCL 8.58 Decreased By ▼ -0.03 (-0.35%)
DFML 41.40 Increased By ▲ 0.31 (0.75%)
DGKC 86.50 Decreased By ▼ -0.63 (-0.72%)
FCCL 32.13 Decreased By ▼ -1.26 (-3.77%)
FFBL 65.40 Decreased By ▼ -0.01 (-0.02%)
FFL 10.27 Decreased By ▼ -0.20 (-1.91%)
HUBC 110.60 Decreased By ▼ -0.03 (-0.03%)
HUMNL 14.70 Decreased By ▼ -0.60 (-3.92%)
KEL 5.15 Increased By ▲ 0.17 (3.41%)
KOSM 7.15 Decreased By ▼ -0.28 (-3.77%)
MLCF 41.69 Decreased By ▼ -1.30 (-3.02%)
NBP 60.20 Decreased By ▼ -0.22 (-0.36%)
OGDC 194.48 Decreased By ▼ -3.16 (-1.6%)
PAEL 27.95 Decreased By ▼ -1.06 (-3.65%)
PIBTL 7.98 Decreased By ▼ -0.28 (-3.39%)
PPL 150.52 Decreased By ▼ -3.64 (-2.36%)
PRL 27.08 Increased By ▲ 2.08 (8.32%)
PTC 16.08 Decreased By ▼ -0.01 (-0.06%)
SEARL 78.20 Decreased By ▼ -0.25 (-0.32%)
TELE 7.42 Increased By ▲ 0.05 (0.68%)
TOMCL 35.70 Decreased By ▼ -0.39 (-1.08%)
TPLP 7.90 Decreased By ▼ -0.17 (-2.11%)
TREET 15.87 Decreased By ▼ -0.09 (-0.56%)
TRG 52.70 Decreased By ▼ -0.66 (-1.24%)
UNITY 26.65 Decreased By ▼ -0.06 (-0.22%)
WTL 1.28 Increased By ▲ 0.01 (0.79%)
BR100 9,920 Decreased By -52.1 (-0.52%)
BR30 30,751 Decreased By -346.3 (-1.11%)
KSE100 93,225 Decreased By -423.8 (-0.45%)
KSE30 28,885 Decreased By -132.9 (-0.46%)

US gold futures slipped early on Tuesday amid softer oil prices and a firmer dollar after a mixed bag of US economic data, but traders said fund buying and good overseas demand helped shore up prices.
December delivery gold fell $2.10 to $474.50 an ounce by 10:35 am EDT on the New York Mercantile Exchange's COMEX division, dealing from $477 to $472.80.
Fund and bank buying emerged in thin volume but gold still favoured the downside as the dollar firmed on Tuesday, dealers said.
"The Quadriga fund was buying and J. Aron lifted us, but the market keeps drifting off - the euro is lower and the economic numbers are a mixed bag," said a COMEX floor trader.
The currency reacted to a key measure of US inflation rising more than expected, while in other data money flowed heavily into US assets in the latest month.
Brokers put support in December gold at $471, $468 and around $466, with resistance at $477 and $484.
Estimated COMEX volume was light at 15,000 lots at 10 am. The troubles at futures and commodities firm Refco Inc sparked heavy fund liquidation in gold last week, traders said. The firm has now agreed to sell its core futures brokerage business to an investor group for $768 million and filed for bankruptcy protection along with several subsidiaries.
Private equity fund J.C. Flowers & Co LLC is leading the investor group, but it could face some competition. Dubai Investments, an arm of the Dubai government, has hired The Blackstone Group to advise it on a potential $1 billion acquisition of all of Refco, one source near the matter said.
Spot gold dipped to $471.90/472.70 an ounce, against Monday's New York close at $473.70/4.50. Tuesday's afternoon fix in London by bullion dealers was at $472.
COMEX December silver shed 5.0 cents to $7.825 an ounce, trading from $7.89 to $7.785. Spot silver hit $7.76/79 an ounce, from $7.79/82 previously. The fix was at $7.775.
NYMEX January platinum lost $1 to $935.50 an ounce. Spot was quoted at $927/933. December palladium fell $2.30 to $215 an ounce from a prior seven-month high. Spot traded at $209/213.

Copyright Reuters, 2005

Comments

Comments are closed.