News in Brief(29-5-2018)
Tuesday, 29 May 2018
Gold prices ease after six weeks
BENGALURU, May 28: Gold prices eased on Monday, following their biggest weekly gain in six weeks. Meanwhile, the gold price in Hong Kong went down 48 Hong Kong dollars to open at 12,170 dollars (about 1,550.32 US dollars) per tael on Monday. — Agencies
Karachi Cotton Assoc fixes rate for Grade 3
KARACHI, May 28: The Karachi Cotton Association on Monday fixed the official spot rate, or base price, for Grade 3 cotton at 7,931 rupees per maund (40 kg). Grade 3 cotton has a staple length of 1-1/16" and micronaire value between 3.8 and 4.9 NCL (no control limits), which represents fine to coarse classes of cotton varieties. In the kerb market, the key crop varieties traded in the range of 6,450 to 6,800 rupees per maund.— Reuters
Shanghai lead slips from eight-month high
MANILA, May 28: Chinese lead futures retreated on Monday from their strongest level in nearly eight months, tracking losses in London in the prior session, as investors cashed in on the recent sharp gains. Trading was slow with the London Metal Exchange shut for a UK public holiday. — Reuters