Gold fell on Thursday after news showing India world’s largest buyer of yellow metal

Karachi, June 06, 2013 (PPI-OT): Gold fell on Thursday after a news showing India, the world’s largest buyer of the yellow metal, is going to hike its import duty second time in the current year to curb the demand. However this fall is capped by the strong demand from China, the world No. 2 consumer of the commodity. Further, the prices get supported on account that the U.S. Federal Reserve would stick with its bond purchases for now.

Crude rose for a second day in New York, trading near its highest level in a week after U.S. stockpiles dropped the most this year.

Malaysian palm oil futures rose to the highest in more than two months on Thursday, buoyed by optimism that stocks of the tropical oil in the world’s second largest producer could have dropped in May.

Settlement Prices at PMEX were as follows with volumes at Rs. 4.95 billion with 13,942 lots traded:

GOLD: USD 1,405.20 /t oz
SILVER: USD 22.610 /t oz
CRUDE OIL: USD 94.22 / barrel
IRRI-6: Rs. 3,636 /100 kg
Palmolein: Rs. 4,363 / Mound
Sugar: Rs. 44.93/kg
Wheat: Rs. 3,211/100 kg
ICotton: US cents/pound 83.41

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
Web: www.pmex.com.pk

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