AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

US gold futures turned higher on Monday as the dollar extended losses, more than offsetting follow-through weakness and investors' need to raise cash on the back of Dubai's debt woes. COMEX February gold up 80 cents at $1,176.30 an ounce at 10:07 am EST (1507 GMT) on the NYMEX. Ranged from $1,165 to $1,185. Dollar adds losses against the euro as economic optimism supports the equities and commodities markets.
Gold investors initially sell to cover losses after worries about Dubai's debt default pressured equities last week. Dubai, typically a major gold buyer, could unload bullion holdings to opt for cash, and that adds selling pressure to the market, said Miguel Perez-Santalla at Heraeus.
Dubai's debt crisis could be China's opportunity to snap up gold and oil assets, said senior Chinese official. Investor sentiment firm after last week's news that Sri Lanka acquired gold from the IMF, and a report that India is open to buying more IMF gold. Gold-to-oil ratio at 15.40, down from the previous session's 15.44.
COMEX estimated 10 am volume at 111,739 lots. Spot gold at $1,175.50 an ounce, compared with $1,176.70 late in the previous session in New York. March silver up 8 cents at $18.415 an ounce, tracking gold's positive turnaround. Ranged from $18.135 to $18.545. COMEX estimated 10 am volume at 17,684 lots.
Spot silver was at $18.33, against $18.25 in the previous session in New York. January platinum up $9.40 at $1,456.50 an ounce, as better economic sentiment boosts demand for platinum group metals used as autocatalyst. Spot platinum $1,448.50 an ounce. March palladium down $1.10 at $367.45 an ounce on profit-taking. Spot palladium $363 an ounce.

Copyright Reuters, 2009

Comments

Comments are closed.