Gold prices in Pakistan increased on Monday, mirroring gains in the international market as investors awaited the US Federal Reserve's policy meeting. Expectations of an interest rate cut kept the dollar subdued, helping drive bullion demand. Domestically, gold per tola rose by Rs1,600 to Rs443,762, while the 10-gram rate reached Rs380,454, up Rs1,372, according to the All Pakistan Sarafa Gems and
Australian shares fell for a second consecutive session, with commodity and technology stocks leading declines, while investors awaited further details on the central bank’s monetary stance despite expectations of an interest rate hold. The S&P/ASX 200 index fell 0.3% to 8,596, as of 2312 GMT. The benchmark ended the previous session 0.1% lower. Investor focus is on the Reserve Bank of Au
Pakistan has sought support from the United States (US) to engage the International Monetary Fund (IMF) and the World Bank “to help remove obstacles hindering the sustainable growth” of the power sector. The development came as Pakistan’s Power minister Awais Ahmed Leghari met US Ambassador Natalie Baker on Monday. “During the meeting, Mr Awais Leghari requested the Ambassador’s support in e
Oil prices edged down on Tuesday, extending losses from the 2% drop in the previous session, with markets keeping a close eye on peace talks to end Russia’s war in Ukraine, concerns about ample supply and a looming decision on US interest rates. Brent crude futures were down 7 cents, or 0.1%, to $62.42 a barrel at 0717 GMT. US West Texas Intermediate crude was at $58.75, down 13 cents, or 0.
The Pakistani rupee strengthened against the US dollar, appreciating 0.06% during the opening minutes of trading in the inter-bank market on Tuesday. At 10am, the local currency was hovering at 280.23, a gain of Re0.18 against the greenback. On Tueesday, the local unit closed at 280.41. Globally, the Japanese yen held steady in early Asian trading after a powerful 7.5-magnitude earthquake