AGL 42.00 Increased By ▲ 3.46 (8.98%)
AIRLINK 129.50 No Change ▼ 0.00 (0%)
BOP 5.85 Increased By ▲ 0.24 (4.28%)
CNERGY 4.02 Increased By ▲ 0.16 (4.15%)
DCL 8.68 Decreased By ▼ -0.05 (-0.57%)
DFML 40.90 Decreased By ▼ -0.86 (-2.06%)
DGKC 88.80 Increased By ▲ 0.50 (0.57%)
FCCL 35.05 Increased By ▲ 0.05 (0.14%)
FFBL 66.66 Decreased By ▼ -0.69 (-1.02%)
FFL 10.68 Increased By ▲ 0.07 (0.66%)
HUBC 109.01 Increased By ▲ 0.25 (0.23%)
HUMNL 14.82 Increased By ▲ 0.16 (1.09%)
KEL 4.76 Increased By ▲ 0.01 (0.21%)
KOSM 7.26 Increased By ▲ 0.31 (4.46%)
MLCF 43.00 Increased By ▲ 1.35 (3.24%)
NBP 61.00 Increased By ▲ 1.40 (2.35%)
OGDC 179.66 Decreased By ▼ -3.34 (-1.83%)
PAEL 25.87 Decreased By ▼ -0.38 (-1.45%)
PIBTL 6.04 Increased By ▲ 0.07 (1.17%)
PPL 146.56 Decreased By ▼ -0.14 (-0.1%)
PRL 23.76 Increased By ▲ 0.15 (0.64%)
PTC 16.60 Increased By ▲ 0.04 (0.24%)
SEARL 71.01 Increased By ▲ 2.71 (3.97%)
TELE 7.26 Increased By ▲ 0.03 (0.41%)
TOMCL 36.55 Increased By ▲ 0.60 (1.67%)
TPLP 8.05 Increased By ▲ 0.20 (2.55%)
TREET 15.06 Increased By ▲ 0.86 (6.06%)
TRG 50.91 Increased By ▲ 0.46 (0.91%)
UNITY 27.20 Increased By ▲ 0.45 (1.68%)
WTL 1.27 Increased By ▲ 0.06 (4.96%)
BR100 9,863 Increased By 57.8 (0.59%)
BR30 29,796 Increased By 118.1 (0.4%)
KSE100 92,703 Increased By 398.8 (0.43%)
KSE30 28,915 Increased By 74.5 (0.26%)

Gold prices rose on Wednesday, extending gains to 1 percent as the dollar fell after the US Federal Reserve raised interest rates as expected but left its outlook unchanged for coming years. The spot gold price rallied to $1,256.87 after the Fed raised its benchmark interest rates by 25 basis points, or a quarter of a percentage point.
Having raised its benchmark overnight lending rate three times this year, the Fed projected three more hikes in each of 2018 and 2019 before a long-run level of 2.8 percent is reached. That outlook is unchanged from the last round of forecasts in September. The dollar index against a basket of six major currencies dropped as low as 93.596.
A weaker dollar generally boosts the price of dollar-denominated gold. Spot gold was up 1 percent at $1,255.38 an ounce by 4:13PM EST (21:13 GMT). US gold futures for February delivery settled up $6.90, or 0.6 percent, at $1,248.60 per ounce. Traders said inflation fears also supported gold's price, even though inflation data released early in the session was mild.

Comments

Comments are closed.