The US dollar was steady on Wednesday as investors remained cautious after a partial government shutdown swiftly ended while the yen wobbled near a two-week low ahead of what is shaping up to be an unpredictable, opens new tab national election over the weekend. The currency markets were still digesting Kevin Warsh’s nomination by US President Donald Trump as the next Federal Reserve chief, wit
Gold prices extended gains on Wednesday on safe-haven appeal, as renewed geopolitical tensions between the US and Iran added to the yellow metal’s recent upswing that saw it mark its best day since 2008 in the previous session. Spot gold gained 2.7% to $5,071.79 per ounce as of 0353 GMT, after surging 5.9% on Tuesday, its biggest daily gain since November 2008. Bullion scaled a record high o
Oil prices extended gains on Wednesday after the US shot down an Iranian drone and armed Iranian boats approached a US-flagged vessel in the Strait of Hormuz, rekindling fears of an escalation in tensions between Washington and Tehran. Brent crude futures were up 56 cents, or 0.8%, at $67.89 per barrel at 0400 GMT. US West Texas Intermediate crude was up 63 cents, or 1.0%, at $63.84 per barr
Buying momentum continued at the Pakistan Stock Exchange (PSX) on Tuesday, with the benchmark KSE-100 Index climbing more than 1,750 points in early trading. Buying was seen in automobile, cement, chemical, banking, fertiliser, pharma, tech, and OMC sectors. At 10:15am, the KSE-100 Index was hovering at 186,813.16, up by 1755.33 points or 0.95%. On Monday, the PSX witnessed volatile trading,
Gold and Asian stocks were on the rebound on Tuesday as trade took a calmer tone after wild swings in metals markets, with the mood helped overnight by a sharp jump in US factory activity. Japan’s Nikkei jumped 2.5% to recoup Monday losses and South Korea’s KOSPI rose 4%. Futures pointed to a recovery in Hong Kong while S&P 500 futures were up 0.3% with traders eyeing a busy few sessions of ear