Gold prices held steady on Thursday, paring an earlier drop of nearly 1%, while a firmer dollar and fading hopes for near-term interest rate cuts due to higher oil prices continued to weigh. Spot gold was down 0.1% at $5,172.86 per ounce as of 0221 GMT. U.S. gold futures for April delivery was unchanged at $5,178. “Given a lack of a short-term exit for the Middle East conflict right now,
Oil prices climbed on Thursday after Iraqi security officials said Iranian explosive-laden boats had hit two fuel oil tankers amid other global supply disruptions from the US-Israeli war on Iran. Brent futures rose $5.69, or 6.19%, to $97.67 a barrel at 0118 GMT, and U.S. West Texas Intermediate (WTI) crude was up $5.11, or 5.86%, to $92.36. Two foreign tankers carrying Iraqi fuel oil were
Buying continued at the Pakistan Stock Exchange (PSX) as market sentiments improved following a decline in oil prices. The benchmark KSE-100 Index gained over 2,400 points during the opening minutes of trading on Wednesday. At 10:15am, the benchmark index was hovering at 158,589.72, up 2,412.60 points, or 1.54%. Buying was observed in key sectors, including automobile assemblers, cement, com
K Electric Limited (KE) announced on Wednesday that it postponed its Extraordinary General Meeting (EOGM) to April 2, and increased the number of directors to be elected from 10 to 13. The country’s sole power utility for Karachi shared the information in a notice to the Pakistan Stock Exchange (PSX) today. It said that the decision was taken after the Government of Pakistan (GoP), through t
As the backbone of Pakistan’s energy landscape, Pakistan State Oil (PSO) continues to demonstrate resilience in managing the national supply chain. In response to the evolving geopolitical environment, the company has proactively optimized its operations to ensure that the nation’s energy needs are met with precision and reliability. PSO is aggressively building fuel stocks to insulate the nationa