AIRLINK 168.96 Decreased By ▼ -1.61 (-0.94%)
BOP 11.25 Increased By ▲ 0.07 (0.63%)
CNERGY 8.49 Increased By ▲ 0.08 (0.95%)
CPHL 99.35 Decreased By ▼ -0.38 (-0.38%)
FCCL 46.50 Decreased By ▼ -0.10 (-0.21%)
FFL 15.44 Increased By ▲ 0.29 (1.91%)
FLYNG 27.60 Increased By ▲ 0.05 (0.18%)
HUBC 143.49 Increased By ▲ 5.71 (4.14%)
HUMNL 12.81 Decreased By ▼ -0.11 (-0.85%)
KEL 4.62 Increased By ▲ 0.08 (1.76%)
KOSM 5.41 Increased By ▲ 0.05 (0.93%)
MLCF 62.76 Increased By ▲ 0.36 (0.58%)
OGDC 211.35 Decreased By ▼ -0.81 (-0.38%)
PACE 5.42 No Change ▼ 0.00 (0%)
PAEL 46.50 Decreased By ▼ -0.68 (-1.44%)
PIAHCLA 18.10 Decreased By ▼ -0.38 (-2.06%)
PIBTL 10.96 Increased By ▲ 0.60 (5.79%)
POWER 12.18 Decreased By ▼ -0.15 (-1.22%)
PPL 171.30 Increased By ▲ 1.70 (1%)
PRL 35.98 Increased By ▲ 0.13 (0.36%)
PTC 23.15 Increased By ▲ 0.06 (0.26%)
SEARL 96.60 Increased By ▲ 0.34 (0.35%)
SSGC 41.31 Increased By ▲ 1.79 (4.53%)
SYM 13.86 Increased By ▲ 0.02 (0.14%)
TELE 7.16 Increased By ▲ 0.01 (0.14%)
TPLP 10.00 Decreased By ▼ -0.03 (-0.3%)
TRG 63.70 Increased By ▲ 0.22 (0.35%)
WAVESAPP 10.05 Increased By ▲ 0.06 (0.6%)
WTL 1.31 No Change ▼ 0.00 (0%)
YOUW 3.61 Decreased By ▼ -0.05 (-1.37%)
BR100 12,386 Increased By 80.8 (0.66%)
BR30 37,778 Increased By 362.7 (0.97%)
KSE100 115,683 Increased By 829.4 (0.72%)
KSE30 35,468 Increased By 251.2 (0.71%)

Gold prices firmed on Monday as investors turned their focus on the Federal Reserve’s meeting on Dec. 17-18, when it is widely expected to deliver its third interest rate cut this year.

Gold falls massive Rs5,000 per tola in Pakistan

Fundamentals

  • Spot gold held ground at $2,649.53 per ounce, as of 0037 GMT. US gold futures eased 0.3% to $2,668.00.

  • Investors view it as a near given that the Fed will cut rates by a quarter of a percentage point this week, while the central bank’s language on rate cuts in 2025 is in focus.

  • Markets fully expect a cut at the upcoming meeting, but have only priced in a roughly 18% chance of another reduction in January, according to CME’s FedWatch tool.

  • Non-yielding bullion tends to shine in a lower interest rate environment and during economic or geopolitical crisis.

  • On the geopolitical front, Israeli strikes in Gaza killed at least 53 Palestinians, including a journalist and rescue workers, medics said, while the Israeli military said its air and ground forces in the north of the enclave killed dozens of militants and captured others.

  • SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.53% to 863.90 tonnes on Friday from 868.50 tonnes on Thursday.

  • Gold discounts in India widened last week to their highest in over two months as a rebound in domestic prices during the wedding season curtailed demand, while China’s stimulus measures did little to revive consumer confidence in the key market.

  • Spot silver was flat at $30.56 per ounce, platinum shed 0.2% to $922.95, while palladium gained 0.5% to $957.56.

Comments

200 characters