AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 132.66 Increased By ▲ 3.13 (2.42%)
BOP 6.89 Increased By ▲ 0.21 (3.14%)
CNERGY 4.57 Decreased By ▼ -0.06 (-1.3%)
DCL 8.92 Decreased By ▼ -0.02 (-0.22%)
DFML 42.75 Increased By ▲ 1.06 (2.54%)
DGKC 84.00 Increased By ▲ 0.23 (0.27%)
FCCL 32.90 Increased By ▲ 0.13 (0.4%)
FFBL 77.06 Increased By ▲ 1.59 (2.11%)
FFL 12.20 Increased By ▲ 0.73 (6.36%)
HUBC 110.01 Decreased By ▼ -0.54 (-0.49%)
HUMNL 14.40 Decreased By ▼ -0.16 (-1.1%)
KEL 5.53 Increased By ▲ 0.14 (2.6%)
KOSM 8.32 Decreased By ▼ -0.08 (-0.95%)
MLCF 39.67 Decreased By ▼ -0.12 (-0.3%)
NBP 65.50 Increased By ▲ 5.21 (8.64%)
OGDC 198.74 Decreased By ▼ -0.92 (-0.46%)
PAEL 26.00 Decreased By ▼ -0.65 (-2.44%)
PIBTL 7.62 Decreased By ▼ -0.04 (-0.52%)
PPL 159.00 Increased By ▲ 1.08 (0.68%)
PRL 26.24 Decreased By ▼ -0.49 (-1.83%)
PTC 18.35 Decreased By ▼ -0.11 (-0.6%)
SEARL 82.24 Decreased By ▼ -0.20 (-0.24%)
TELE 8.12 Decreased By ▼ -0.19 (-2.29%)
TOMCL 34.40 Decreased By ▼ -0.11 (-0.32%)
TPLP 8.98 Decreased By ▼ -0.08 (-0.88%)
TREET 16.88 Decreased By ▼ -0.59 (-3.38%)
TRG 59.49 Decreased By ▼ -1.83 (-2.98%)
UNITY 27.52 Increased By ▲ 0.09 (0.33%)
WTL 1.40 Increased By ▲ 0.02 (1.45%)
BR100 10,614 Increased By 206.9 (1.99%)
BR30 31,874 Increased By 160.5 (0.51%)
KSE100 98,972 Increased By 1644 (1.69%)
KSE30 30,784 Increased By 591.7 (1.96%)

Gold rose to its highest in nearly two weeks early on Tuesday as the dollar fell in the wake of disappointing US economic data that raised doubts over a Federal Reserve interest rate rise this year, while platinum rallied 3 percent. Spot gold rose 1.4 percent to $1,151.20 an ounce, the highest since September 24, and was up 1 percent at $1,147.01 an ounce by 2:44 pm EDT (1844 GMT). US gold futures for December delivery settled up 0.8 percent at $1,146.40 an ounce.
The gains added to Friday's 2.2 percent jump, the biggest one-day rise since January 15, which followed data showing US employers had slammed the brakes on hiring over the last two months. Then on Monday, data showed the pace of growth in the US services sector decelerated in September, though some analysts said a US rate hike in December could not be ruled out entirely. "The Fed is worried about the implications of continuing low inflation or even outright deflation because of low oil prices, but a December rate hike is still possible," Mitsubishi Corp strategist Jonathan Butler said.
Analysts also cited increasing international political tensions after Russia's warplanes violated the air space of alliance member Turkey at the weekend. "Increasing tensions between Russia and Turkey are helping gold today ... That should continue in the short term, but then the focus will be shifting back to what the Fed is going to do and the dollar," Commerzbank analyst Daniel Briesemann said. The dollar was down 0.7 percent against a basket of currencies and global shares rose.
Platinum rose 3.1 percent to $940.25 an ounce, having hit a near seven-year low of $888 on Friday, offering industrial buyers a relatively good price, said James Steel, chief metals analyst for HSBC Securities in New York. "Its ability to get over $900 has led there to be some modest revaluation of auto diesel demand going forward and may not be as dire as the knee-jerk reaction to the auto diesel issue," Steel said. SPDR Gold Trust, the top gold-backed exchange-traded fund, saw its first outflow in two weeks on Monday.
Silver rose to the highest in more than three months at $16.08 an ounce, extending gains above its 200-day moving average. It has gained nearly 10 percent since Thursday's close. Palladium reached its highest since June at $712.50 an ounce as it continued to benefit from expectations that demand for gasoline cars, where the metal is used in catalysts, would rise due to the Volkswagen diesel engine emissions scandal.

Copyright Reuters, 2015

Comments

Comments are closed.