August 17, 2007	Friday	Sha’aban 3, 1428

KARACHI, Aug 16: The National Commodity Exchange Limited (NCEL) on Thursday announced that the first physical delivery of certified pure gold to buyers would take place on Friday.

According to a press release, the NCEL’s first gold futures contract, which expired on August 15, recorded physical deliveries of three kilograms of pure gold produced by a London Bullion Market Association (LBMA) certified refiner and freshly imported into Pakistan with delivery at Karachi.

The final settlement of the LBMA certified pure gold bars accompanied with a certificate of fineness, was at Rs13,190 per 10-gram ex-Karachi, inclusive of import duty, taxes, etc., and is based on the international spot price of gold, giving buyers the advantage of a transparent benchmark price with full quality assurance.