AGL 41.50 Increased By ▲ 2.96 (7.68%)
AIRLINK 128.00 Decreased By ▼ -1.50 (-1.16%)
BOP 6.26 Increased By ▲ 0.65 (11.59%)
CNERGY 4.13 Increased By ▲ 0.27 (6.99%)
DCL 8.44 Decreased By ▼ -0.29 (-3.32%)
DFML 40.69 Decreased By ▼ -1.07 (-2.56%)
DGKC 87.90 Decreased By ▼ -0.40 (-0.45%)
FCCL 34.10 Decreased By ▼ -0.90 (-2.57%)
FFBL 66.33 Decreased By ▼ -1.02 (-1.51%)
FFL 10.56 Decreased By ▼ -0.05 (-0.47%)
HUBC 108.70 Decreased By ▼ -0.06 (-0.06%)
HUMNL 14.46 Decreased By ▼ -0.20 (-1.36%)
KEL 4.65 Decreased By ▼ -0.10 (-2.11%)
KOSM 7.33 Increased By ▲ 0.38 (5.47%)
MLCF 42.72 Increased By ▲ 1.07 (2.57%)
NBP 60.84 Increased By ▲ 1.24 (2.08%)
OGDC 178.97 Decreased By ▼ -4.03 (-2.2%)
PAEL 25.70 Decreased By ▼ -0.55 (-2.1%)
PIBTL 6.06 Increased By ▲ 0.09 (1.51%)
PPL 146.15 Decreased By ▼ -0.55 (-0.37%)
PRL 24.91 Increased By ▲ 1.30 (5.51%)
PTC 16.14 Decreased By ▼ -0.42 (-2.54%)
SEARL 70.20 Increased By ▲ 1.90 (2.78%)
TELE 7.22 Decreased By ▼ -0.01 (-0.14%)
TOMCL 36.20 Increased By ▲ 0.25 (0.7%)
TPLP 7.84 Decreased By ▼ -0.01 (-0.13%)
TREET 15.59 Increased By ▲ 1.39 (9.79%)
TRG 50.36 Decreased By ▼ -0.09 (-0.18%)
UNITY 26.90 Increased By ▲ 0.15 (0.56%)
WTL 1.24 Increased By ▲ 0.03 (2.48%)
BR100 9,795 Decreased By -11.1 (-0.11%)
BR30 29,647 Decreased By -31.2 (-0.1%)
KSE100 92,021 Decreased By -282.9 (-0.31%)
KSE30 28,665 Decreased By -175.5 (-0.61%)

New York gold futures rose in mixed trade and light volume on Friday as the dollar weakened after a government report showed US job losses were worse than expected in October. December gold up $6.30 at $738.20 an ounce on the COMEX division of the New York Mercantile Exchange at 10:38 am EST (1538 GMT). Range from $725.50 to $744.90.
Gold supported by weak US nonfarm payrolls data, but pre-weekend position squaring also seen, said RBC Capital Markets Global Futures Vice President George Gero. US employers slashed an unexpectedly steep 240,000 jobs from payrolls last month and the jobless rate shot up to a 14-1/2 year high. But gold could weaken in the near term as liquidation by hedge funds might not be over, said Gero.
Gold dropped 1.5 percent on Thursday due to a resumption of fund deleveraging and bullion did not attract flight to safety demand. COMEX estimated 9:00 am volume at 32,157 lots, and options turnover at 2,327 contracts. Spot gold at $737.10, up 0.5 percent from Thursday's close of $732.95. December silver up 6.0 cents to $10.115 an ounce. Silver firmed on bargain hunting in oversold market conditions, said traders.
Support seen in the near term as $10 silver seemed to hold, said RBC Capital Markets. COMEX estimated 9:00 am volume at 5,940 lots. Spot silver at $10.11, up 1.5 percent from Thursday's close of $9.96. NYMEX January platinum rises $19.70, or 2.4 percent, to $858.00 an ounce. Platinum, mostly used as an industrial metal for catalytic converters in cars, rebounded after Thursday's decline based on dismal global auto sales.
Spot platinum fetched $847, up 2.5 percent from Thursday's finish. December palladium up $2.35, or 1.1 percent, at $224.95 an ounce on pent-up buying after recent weakness. Spot palladium fetched $220.50, up 2.6 percent from its previous close.

Copyright Reuters, 2008

Comments

Comments are closed.