Gold edges lower on Thursday

Karachi, June 13, 2013 (PPI-OT): Gold edged lower on Thursday, snapping earlier gains, as Asian stock markets fell sharply and the U.S dollar dropped to a 10-week low on persistent uncertainty over the Federal Reserve’s massive stimulus programme. Investors are waiting the ahead Fed policy meeting i.e., on June 18 and 19 for clues on the timing of a rollback of stimulus measures.

WTI crude fell for the third time in four days as speculation that fuel demand will decline outweighed concern that Middle Eastern exports may be disrupted by political unrest.

Malaysian palm oil futures fell to a one-week low on Thursday as investors continued to book profits from a recent rally in prices, although trading was thin amid caution ahead of upcoming export figures for the first half of the month.

Settlement Prices at PMEX were as follows with volumes at Rs. 2.79 billion with 13,204lots traded:

GOLD: USD 1,386.8 /t oz
SILVER: USD 21.772 /t oz
CRUDE OIL: USD 95.62 / barrel
IRRI-6: Rs. 3,717 /100 kg
Palmolein: Rs. 4,455 / Mound
Sugar: Rs. 45.15/kg
Wheat: Rs. 3,230/100 kg
ICotton: US cents/pound 89.23

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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