ANL 31.79 Decreased By ▼ -0.10 (-0.31%)
ASC 19.73 Increased By ▲ 0.13 (0.66%)
ASL 26.40 Decreased By ▼ -0.34 (-1.27%)
AVN 92.00 Increased By ▲ 1.00 (1.1%)
BOP 8.36 Decreased By ▼ -0.02 (-0.24%)
BYCO 12.79 Decreased By ▼ -0.10 (-0.78%)
DGKC 127.10 Decreased By ▼ -0.65 (-0.51%)
EPCL 48.76 Decreased By ▼ -0.19 (-0.39%)
FCCL 24.06 Increased By ▲ 0.01 (0.04%)
FFBL 26.30 Decreased By ▼ -0.15 (-0.57%)
FFL 17.80 Increased By ▲ 0.55 (3.19%)
HASCOL 12.33 Increased By ▲ 0.10 (0.82%)
HUBC 81.00 Decreased By ▼ -0.68 (-0.83%)
HUMNL 8.76 Increased By ▲ 0.13 (1.51%)
JSCL 24.33 Increased By ▲ 0.16 (0.66%)
KAPCO 43.25 Decreased By ▼ -0.28 (-0.64%)
KEL 4.51 Increased By ▲ 0.03 (0.67%)
LOTCHEM 15.80 Decreased By ▼ -0.08 (-0.5%)
MLCF 48.65 Increased By ▲ 0.39 (0.81%)
PAEL 35.80 Decreased By ▼ -0.05 (-0.14%)
PIBTL 11.21 No Change ▼ 0.00 (0%)
POWER 10.36 Increased By ▲ 0.04 (0.39%)
PPL 91.15 Decreased By ▼ -0.01 (-0.01%)
PRL 25.65 No Change ▼ 0.00 (0%)
PTC 13.01 Increased By ▲ 0.06 (0.46%)
SILK 1.66 Increased By ▲ 0.07 (4.4%)
SNGP 48.35 Decreased By ▼ -0.05 (-0.1%)
TRG 165.50 Decreased By ▼ -0.49 (-0.3%)
UNITY 47.10 Decreased By ▼ -0.89 (-1.85%)
WTL 3.92 Increased By ▲ 0.08 (2.08%)
BR100 5,300 Increased By ▲ 1.52 (0.03%)
BR30 27,689 Decreased By ▼ -65.54 (-0.24%)
KSE100 48,435 Decreased By ▼ -46.24 (-0.1%)
KSE30 19,520 Decreased By ▼ -27.3 (-0.14%)
Markets

Gold inches higher on subdued dollar ahead of US data

  • China's gold consumption soared 93.9% in the first three months from the same quarter a year earlier, the China Gold Association said on Friday.
03 May 2021

Gold prices ticked up on Monday, supported by a muted dollar ahead of a series of US data, while auto-catalyst metal palladium held firm after surpassing $3,000 per ounce on concerns over supply shortage in the previous session.

FUNDAMENTALS

Spot gold was up 0.1% at $1,770.66 per ounce by 0119 GMT, US gold futures rose 0.2% to $1,770.30 per ounce.

Palladium rose 0.3% to $2,944.19 per ounce, after scaling all time high of $3,007.73 per ounce on Friday.

The dollar index was down 0.1% against its rivals, making gold less expensive for other currency holders.

US Treasury Secretary Janet Yellen on Sunday tamped down concerns that President Joe Biden's plans for infrastructure, jobs and families will cause inflation, saying the spending will be phased in over a decade.

US consumer spending rebounded in March amid a surge in income as households received additional COVID-19 pandemic relief money from the government.

Physical gold in India was sold at a discount last week for the first time in 2021 as a spike in coronavirus cases prompted strict restrictions and kept buyers away.

China's gold consumption soared 93.9% in the first three months from the same quarter a year earlier, the China Gold Association said on Friday.

Asian share markets got off to a slow start on Monday as holidays in China and Japan crimped volumes, with investors awaiting raft of economic data out the United States this week.

Dallas Federal Reserve Bank President Robert Kaplan on Friday called for beginning the conversation about reducing central bank support for the economy, warning of imbalances in financial markets and arguing the economy is healing faster than expected.

Silver was steady at $25.90 per ounce. Platinum was up 0.3% at $1,202.17.