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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.81

+0.9%

Nov 19 4:00 PM EST

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To: John Paquet who wrote (41755)	10/1/1999 12:53:00 PM
From: Alex	Read Replies (1) of 116762

Gold trading remains suspended By Our Staff Reporter KARACHI, Sept 30: Trading on the bullion market remained suspended for the fifth consecutive day to prevent any fresh price hike caused by spiralling world prices. "This is for the first time in the history that the official trading in the yellow metal has been suspended for the last five days," bullion dealers said on Thursday. The last official rate was quoted at Rs4,732 per 10 grams on September 25, 1999, General Secretary of Karachi Saraf and Jewellers Group, Haji Mohammad Farooq told Dawn. He said the international price has now settled to $300 per ounce on Thursday after surging to $321 per ounce on Wednesday. The international market jumped to $292 per ounce on Tuesday as against $288 per ounce on Monday. Some 20 days back, the precious metal was quoted at $255 to $260 per ounce in the world market. The trading in the bullion hall in Sarafa, he said, may remain suspended until the international rates are not settled. Haji Farooq said that jewellery sales have also been affected in the last few days and customers are waiting for a price plunge. Owing to absence of any official rate, jewellers in the city have been fleecing consumers by charging higher rates. dawn.com

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