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CRUDE OIL NEWS

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

Last Update 10:00 AM | 19.10.2017

Oil prices dipped, giving back most of its 2.5% gains on Friday by sliding 1.75% Monday, following news that OPEC production compliance declined. Prices were unable to take out the prior’s sessions highs, which coincides with an upward sloping trend line that comes in near 48.15. Prices have been moving lower through the 10-day moving average which is seen as short-term support near 48.13. Target support on crude oil is seen near the 50-day moving average at 46.54.

Source: www.fxempire.com

GOLD NEWS

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

Last Update 10:00 AM | 19.10.2017

Gold price resumed its positive trading to approach from 1295.37 level again, waiting to confirm breaching this level to open the way to rally towards our extended targets that reach to 1312.00 followed by 1347.00, supported by the EMA50, taking into consideration that holding above 1274.00 represents the first condition to continue the expected rise.

Source: www.economies.com

SILVER NEWS

Silver! Metals Stocks Are Not Done Going Up

Last Update 10:00 AM | 19.10.2017

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

TOLA GOLD NEWS

Govt raises gold-buying price

Last Update 10:00 AM | 19.10.2017

Gold prices have increased by Rs 400 per tola (11.66 g) as the new prices have been observed to be Rs 51,700 per tola. It was already on the cards as gold prices soared by $7 and rose to $1269 per ounce in the international market. The Saraf Jewelers Association has confirmed the renewed prices as 10 gram gold was reported to rose to Rs 44,314.

Source: www.rozetv.com

EURUSD NEWS

EUR/USD likely poised for further breakdown on dollar rebound

Last Update 10:00 AM | 19.10.2017

It was expected to be a very quiet day of trading yesterday as it was the first day of trading for the week and also, it is the August month when some parts of the world are on holiday. This normally would mean low liquidity and hence low volatility but the EURUSD pair turned out to be the biggest mover of the day as it rose from the lows of its range to finally push through 1.18 on the back of some general dollar choppiness across the board.

Source: www..fxempire.com

SHARES NEWS

PSX commences week on negative note

Last Update 10:00 AM | 19.10.2017

KSE-100 Index once again plunged by 925 points to close in red at 42153 point levels on the first trading session of the week here on Monday. Primarily the volatile political situation contributed to the sharp decline which also led to an extremely low market volume of 163 million all shares indicating the cautious approach of the investors on the back of uncertain political scenario prevailing in the country after drop scene of Panama Case. Azgard nine was however the volume leader of the day with a trade of 15 million shares to its credit. The other two volume leaders were including the Bank of Punjab and TRG with trade volumes of 11.41 million and 8.75 million shares to their credit respectively.

Source: www.pakobserver.com

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