Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Eashoa' M'sheekha who wrote (48506)	2/8/2000 5:33:00 AM
From: Alex	Respond to of 116791

Forward trading in gold suspended KARACHI, Feb 7: The bullion dealers have suspended forward trading in gold here on Monday as prices of yellow metal shot up by Rs 400 per 10 grams to Rs 5400, dealers said. "Due to hike in international rates, we decided to suspend trading in domestic market," said a leading bullion dealer here. The 24 carat gold was being quoted at Rs 5100 per 10 grams at the week end here. Yet another dealer said that various rumours also had adverse affect on the bullion market which including fears of Indo-Pak war and another devaluation of rupee. "There are no confirm reports, but the market definitely has been moved by rumours originating from various quarters," said a bullion dealer. He said that forward trading in yellow metal is expected to remain suspended for at least another two days. It is not for the first time that the forward trading has been suspended by the dealers with mutual consensus. "It is normal practice that we suspend trading due to unusual price hike and do not restart business unless previous deals are settle," a dealer said. Meanwhile, according to a Lahore report, gold prices surged by Rs327 per 10 grams. The report said that gold prices shot up to Rs5401 per 10 grams on Monday against Friday's Rs 5074 after the local bullion market opened this morning after a two-day holiday. According to bullion marketdealers, the increase is due to the upward trends in the international market. " It is due to the increase in the gold prices in the international market, not due to domestic factors like marriage ceremonies," Abdul Samee, a Suha bazaar dealer said.-APP dawn.com