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Karachi, April 08, 2013 (PPI-OT): US Fed plans on $85 billion worth of bond purchases this summer. Labor department revealed a figure of 88,000 for jobs generated by the economy during March. This has been the lowest in nine months. Bullions gain support as per Bloomberg’s statements on the Fed. …
Read More »Gold prices falls on Wednesday
Karachi, April 03, 2013 (PPI-OT): Gold prices fell on Wednesday, extending the previous day’s sharp slide, as the metal’s appeal as a haven from risk was hurt by speculation the U.S. economic recovery is gaining traction and a retreat in concerns over Cyprus. Further the metal hit its lowest since …
Read More »Gold held below $1,600 an ounce
Karachi, April 02, 2013 (PPI-OT): Gold held below $1,600 an ounce on Tuesday as a slightly brighter-than-expected reading of euro zone manufacturing activity lifted stock markets, diverting interest from bullion. Investors were reluctant to build significant positions ahead of Bank of Japan and European Central Bank policy meetings on Thursday …
Read More »Pakistan Mercantile Exchange and Tameer Microfinance Bank sign deal on introducing gold-based investment product
Lahore, March 28, 2013 (PPI-OT): Pakistan Mercantile Exchange Limited and Tameer Microfinance Bank Limited (TMFB) signed a MoU on introducing a gold-based investment product. The MoU was signed by Mr. Amjad Khan, CEO PMEX and Mr.Tariq Mohar, Deputy CEO, Tameer Bank in the presence of Mr. Shazad Dada, Chairman PMEX …
Read More »Gold held steady above $1,600 an ounce
Karachi, March 28, 2013 (PPI-OT): Gold held steady above $1,600 an ounce on Thursday on worries the Cyprus rescue deal could become a blueprint for solving banking crises in the euro zone, supporting the precious metal’s safe-haven appeal. Gold is on track for a 1.6 percent gain in March, its …
Read More »News of recovery in the United States economy sends a curb signal for gold
Karachi, March 27, 2013 (PPI-OT): News of recovery in the US economy sends a curb signal for gold. The dollar reached a four-month high versus the euro after data showed yesterday orders for U.S. durable goods climbed more than forecast in February and home prices increased in January the most …
Read More »European Central Banks efforts to preserve currency has led to tough measures for the country
Karachi, March 26, 2013 (PPI-OT): Cyprus bailout curbs the demand for gold. The European Central Banks efforts to preserve the currency has led to tough measures for the country. However, the repercussions of the bailout would unveil in the near future, as the economy would be restructuring to the terms. …
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