Gold fall more than 1 percent on Monday

Karachi, May 13, 2013 (PPI-OT): Gold fell more than 1 percent on Monday, holding near its weakest level in two weeks, as the dollar firmed on signs of an improving U.S. job market and as holdings in exchange-traded funds slipped again. A strong dollar is always weighing on commodities across the board.

Crude prices slipped weighed by a stronger dollar and a drop to an eight-month low in oil demand in the world’s second-largest consumer China.

Malaysian palm oil futures eased from a one-month high on Monday as worries about weak exports prompted profit-taking and offset initial gains driven by slowing inventory levels.

Settlement Prices at PMEX were as follows with volumes at Rs. 4.20 billion with 21,353 lots traded:

GOLD: USD 1,428.80 /t oz
SILVER: USD 23.572 /t oz
CRUDE OIL: USD 95.14 / barrel
IRRI-6: Rs. 3,502 /100 kg
Palmolein: Rs. 4,372 / Mound
Sugar: Rs. 45.39/kg
Wheat: Rs. 3,152/100 kg
Cotton: US cents/pound 85.10

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

Leave a Reply