Gold up

Published March 28, 2006

LONDON, March 27: Silver reached a new 22-year peak on Monday on persistent hopes that a proposed exchange-traded fund will prompt significant demand for the precious metal.

Other metals also extended gains, with palladium surging to a two-year peak and gold rising to three-week highs.

Spot silver rose as high as $10.86 an ounce, its highest since September 1983, before easing to $10.85/10.88.

Spot gold increased to a three-week high of $563.50/564.40 an ounce, up from $560.00/560.90.

Taiwan’s first gold futures contract closed firmer on the first day of trade on Monday, with investors watching to see if volumes would be high enough to attract continued interest.

Analysts said comments by a Bank of China official that the country should use part of its fast-growing foreign exchange reserves to buy gold, were also positive for the market.

—Reuters

Opinion

Editorial

Doctor attacked
09 Jun, 2026

Doctor attacked

AN act of reprehensible violence has shaken the medical community. On Saturday, an employee of the Provincial Civil...
AJK flare-up
09 Jun, 2026

AJK flare-up

MATTERS have worsened in the stand-off between the Azad Kashmir government and the Joint Awami Action Committee,...
Fault lines
09 Jun, 2026

Fault lines

THE April 8 ceasefire that halted hostilities between Israel and Iran has encountered its most serious test yet....
Soft on traders
08 Jun, 2026

Soft on traders

THE Fixed Tax Asaan Scheme for traders with an annual turnover of up to Rs200m has been designed as a ‘pragmatic...
Ceasefire in name
Updated 08 Jun, 2026

Ceasefire in name

Both sides accuse the other of violating the truce that was supposed to halt the conflict in April, yet neither appears willing to abandon negotiations altogether.
Damaged childhoods
08 Jun, 2026

Damaged childhoods

CHILD abuse is so prevalent that the UN ranked Pakistan as the least safe country for children. Even so, more than...