Gold held steady above $1,600 an ounce

Karachi, March 28, 2013 (PPI-OT): Gold held steady above $1,600 an ounce on Thursday on worries the Cyprus rescue deal could become a blueprint for solving banking crises in the euro zone, supporting the precious metal’s safe-haven appeal. Gold is on track for a 1.6 percent gain in March, its first monthly rise in six, amid concerns about the financial stability of the euro zone stoked by the crisis in Cyprus.

Oil rose underpinned by expectations of a revival in demand growth in the United States, the world’s biggest oil consumer, while Europe’s debt worries capped gains.

Malaysian palm oil futures fell to a more-than-one-week low on Thursday, with investors avoiding risky moves as they await key industry export data due next week.

Settlement Prices at PMEX were as follows with volumes at Rs. 3.71 billion with 19,032 lots traded:

Settlement Prices at PMEX were as follows:

GOLD: USD 1,603.2 /toz
SILVER: USD 28.645 /toz
CRUDE OIL: USD 96.74 / barrel
IRRI-6: Rs. 3,391 /100 kg
Palmolein: Rs. 4,180 / Mound
Sugar: Rs. 45.14/kg
Wheat: Rs. 2,865/100 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
Web: www.pmex.com.pk

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