Gold edges down on Thursday, after rising more than 1 per cent

Karachi, May 09, 2013 (PPI-OT): Gold edged down on Thursday, after rising more than 1 percent in the previous session, as speculators booked profits and investors cut their holdings on bullion exchange-traded funds to their lowest since early 2009.

Crude fell below $96 a barrel as rising fuel supplies and faltering demand pointed to a growing surplus of oil worldwide. U.S. crude oil inventories jumped to a fresh record last week as domestic production continued to climb, the U.S. Energy Information Administration (EIA) said on Wednesday.

Malaysian palm oil futures were little changed today, trading in a tight range as investors held off on risky bets ahead of key data due this week.

White, or refined, sugar fell to the lowest level in more than three months in London on speculation of increased sales from the world’s refiners and from Thailand, the second-biggest shipper, to supply Ramadan. Cocoa dropped.

Settlement Prices at PMEX were as follows with volumes at Rs. 2.20 billion with 11,317 lots traded:
GOLD: USD 1,469.80 /t oz
SILVER: USD 24.030 /t oz
CRUDE OIL: USD 96.22 / barrel
IRRI-6: Rs. 3,505 /100 kg
Palmolein: Rs. 4,367 / Mound
Sugar: Rs. 45.44/kg
Wheat: Rs. 3,205/100 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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