Gold eases on signs that physical purchases may be slowing after prices climb to the highest

Karachi, May 07, 2013 (PPI-OT): Gold eased on signs that physical purchases may be slowing after prices climbed to the highest since April 15, when bullion completed the worst drop in three decades, and as investment holdings extended their decline.

Yellow metal’s consumption in China, the world’s largest user after India, jumped 26 percent in the first three months of 2013 from a year ago amid strong bullion sales and rising jewelry demand.

Oil fell slightly after the risk premium created by an Israeli air strike on Syria began to fade. Analysts expect crude oil could rise further on renewed optimism about the health of the global economy, thanks in part to supportive measures from central banks.

Malaysian palm oil futures ended higher on Tuesday, fuelled by bargain-hunting from the previous day’s nearly five-month low, although gains were capped by a firm ringgit and key industry data due at the end of the week.

Settlement Prices at PMEX were as follows with volumes at Rs. 1.53 billion with 9,506 lots traded:
GOLD: USD 1,460.40 /t oz
SILVER: USD 23.647 /t oz
CRUDE OIL: USD 95.68 / barrel
IRRI-6: Rs. 3,507 /100 kg
Palmolein: Rs. 4,374 / Mound
Sugar: Rs. 45.47/kg
Wheat: Rs. 3,207/100 kg

For more information, contact:
Sarang Abbasi
Asst. Manager, Risk and Analytics
Pakistan Mercantile Exchange
9th Floor, PRC Towers, 32-A,
Lalazar Drive M.T.Khan Road,
Karachi, Pakistan.
Cell: +92-03215148905
Fax: +92-35611263
UAN: +92-21-111-623-623, 99210650-61

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