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Oil prices hold near seven-month lows, glut keeps dragging

Last Update 10:00 AM | 16.08.2017

Crude oil price ended yesterday's trading at the key support 48.37 after the strong decline that the price witnessed in the past sessions, starting today with more decline that hints the attempt to break the mentioned level, reminding you that confirming this break will push the price to test 46.80 areas before any new attempt to resume the main bullish trend.

Source: www.fxempire.com


Gold Inches Higher After 5-Wk Low As Dollar Gains On Rate Hike Views

Last Update 10:00 AM | 16.08.2017

Gold is heading toward a daily-cycle top near $1300. Oil is probably going to test the $60-62 range in the weeks ahead. The stock market is trying to complete a daily-cycle low before it begins the next up leg higher to new highs.

Source: www.investing.com


Silver! Metals Stocks Are Not Done Going Up

Last Update 10:00 AM | 16.08.2017

Silver is living up to its reputation this year.Silver prices rallied 17 percent in the first four months of the year, only to reverse and wipe out those gains. Despite the selloff, investors are pouring money into exchange-traded funds, and assets have reached a record 21,211 metric tons, valuing the holdings at $11 billion. At the same time, the picture is bearish in the futures market, where hedge funds now hold the first net-short position in two years.

Source: www.dailyfx.com


Govt raises gold-buying price

Last Update 10:00 AM | 16.08.2017

rachi Saraf Jewellers Association and other reliable sources on Pakistan Times updated daily here. The following table lists the current Gold Rates for 24K 10 Grams rate, 24K Per Tola rate & 22K 10 Grams rate across major cities of Pakistan including Karachi, Hyderabad, Lahore, Multan, Islamabad, Faisalabad, Rawalpindi, Quetta & Peshawar. Gold Rates in other major cities are derived from the prices & rates in these cities.

Source: www.investing.com


EUR/USD likely poised for further breakdown on dollar rebound

Last Update 10:00 AM | 16.08.2017

The EUR/USD pair closed flat for a second consecutive day around 1.1750, as US PPI data provided a reality check on where US inflation and therefore the Fed stand these days. US July headline PPI came in below expected, falling 0.1% monthly basis, and up by 1.9% when compared to a year earlier. The core readings were also a miss, clearly suggesting that the Fed would be in no rush for additional tightening. Additionally, Fed's Dudley spoke, saying that he expects inflation to surge above 2% in the medium term, and growth to remain moderate, adding to the case for a Fed's gradual policy-tightening plan.

Source: www..fxstreet.com


PSX commences week on negative note

Last Update 10:00 AM | 16.08.2017

Investors adopted a dump-and-run approach as the KSE-100 Index plunged over 1,630 points or 3.5% in intra-day trading, falling below the 45,000 level with political uncertainty and lack of positive triggers doing enough to push stocks deep in the red.

Source: www.tribune.com

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