AGL 40.39 Increased By ▲ 0.39 (0.98%)
AIRLINK 126.90 Decreased By ▼ -0.14 (-0.11%)
BOP 6.61 Decreased By ▼ -0.06 (-0.9%)
CNERGY 4.42 Decreased By ▼ -0.09 (-2%)
DCL 8.53 Decreased By ▼ -0.02 (-0.23%)
DFML 41.71 Increased By ▲ 0.27 (0.65%)
DGKC 86.60 Decreased By ▼ -0.25 (-0.29%)
FCCL 32.13 Decreased By ▼ -0.15 (-0.46%)
FFBL 64.88 Increased By ▲ 0.08 (0.12%)
FFL 10.17 Decreased By ▼ -0.08 (-0.78%)
HUBC 109.35 Decreased By ▼ -0.22 (-0.2%)
HUMNL 14.66 Decreased By ▼ -0.02 (-0.14%)
KEL 5.11 Increased By ▲ 0.06 (1.19%)
KOSM 7.42 Decreased By ▼ -0.04 (-0.54%)
MLCF 41.26 Decreased By ▼ -0.12 (-0.29%)
NBP 59.79 Decreased By ▼ -0.62 (-1.03%)
OGDC 193.75 Increased By ▲ 3.65 (1.92%)
PAEL 28.13 Increased By ▲ 0.30 (1.08%)
PIBTL 7.77 Decreased By ▼ -0.06 (-0.77%)
PPL 150.75 Increased By ▲ 0.69 (0.46%)
PRL 26.41 Decreased By ▼ -0.47 (-1.75%)
PTC 16.11 Increased By ▲ 0.04 (0.25%)
SEARL 78.39 Decreased By ▼ -7.61 (-8.85%)
TELE 7.46 Decreased By ▼ -0.25 (-3.24%)
TOMCL 35.47 Increased By ▲ 0.06 (0.17%)
TPLP 8.24 Increased By ▲ 0.12 (1.48%)
TREET 15.95 Decreased By ▼ -0.46 (-2.8%)
TRG 52.65 Decreased By ▼ -0.64 (-1.2%)
UNITY 26.63 Increased By ▲ 0.47 (1.8%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,941 Increased By 57.7 (0.58%)
BR30 30,909 Increased By 309.4 (1.01%)
KSE100 93,883 Increased By 527.2 (0.56%)
KSE30 29,079 Increased By 148.1 (0.51%)

Spot gold rallied to trade around $1,010 on Thursday as the precious metal continued to look to the dollar for direction, though a sense of caution prevailed due to the threat of heavy liquidation of futures positions. Spot gold, which fell in the previous session after the dollar turned higher, is currently down about 1 percent from an 18-month high of $1,023.85 hit last Thursday.
"The trend of a strong euro and weak dollar is what's keeping the price of gold above $1,000," said Shuji Sugata, a manager in the Mitsubishi Corp Futures & Securities research team. The euro was around $1.4719, recovering from earlier losses when it fell as low as $1.4685 on trading platform EBS, to trade slightly below the levels of late US trade. Sugata added, however, that investors needed to watch long positions in the New York market.

Copyright Reuters, 2009

Comments

Comments are closed.