Gold edged higher on Friday and was headed for a weekly gain on easing fears of inflation and higher interest rates as investors remained optimistic about a U.S.-Iran peace deal despite renewed fighting. Spot gold was up 0.3% at $4,700.80 per ounce, as of 0059 GMT. Bullion has gained 1.9% so far this week. US gold futures for June delivery were steady at $4,709.90. The United States an
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry invited on Friday terminal operators to form a consortium and invest in the Energy City, while encouraging them to develop participation mechanism and contribute to establish a multipurpose terminal at Port Qasim. As per a statement, the minister extended the invitation during a meeting with a six-member delegation of leading
Oil prices were up more than 1% on Friday after renewed fighting broke out between the US and Iran, threatening a shaky ceasefire and dashing hopes for progress on reopening the Strait of Hormuz, a key oil and gas transit route. Brent crude futures were up $1.41, or 1.41%, at $101.47 a barrel as of 0123 GMT. West Texas Intermediate (WTI) US crude futures rose by $1.12, or 1.18%, to $95.93 a b
Buying continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 700 points during the opening minutes of trading on Thursday. At 9:50am, the benchmark index was hovering at 172,974.55, up by 1,269.80 points or 0.74%. Buying was observed in key sectors, including automobile assemblers, commercial banks, oil exploration companies, OMCs, power generation,
Asian stocks soared to record highs on Thursday while the US dollar slipped and oil nursed steep losses as traders embraced the prospect of a peace deal in the Middle East, although the fate of the critical Strait of Hormuz remains unresolved. Japan’s Nikkei returned from a long holiday to cross 62,000 for the first time, catching up on a blistering AI-led rally after robust earnings that has