Gold plummets into last line of defence on July 10, 2022Gold prices collapsed more than 3.8pc this week with XAU/USD on pace for the largest weekly decline since June 2020. The plunge marks the fourth consecutive weekly sell-off and takes price into critical support of a multi-year uptrend extending off the 2018 lows. This is the last line of defense for the bulls and we’re […]
Dollar and euro are ‘practically’ at the same price internationally on July 10, 2022The dollar and the euro are “practically” at the same price internationally, in the face of fears of a recession in European markets and the war between Russia and Ukraine. This Friday the euro collapsed and was quoted at $1.01, this being the closest figure to the dollar for 20 years. International experts predict that […]
Bitcoin ‘cheap’ at $20K as BTC price to wallet ratio mimics 2013 on July 10, 2022Fidelity Investments’ Jurrien Timmer stays upbeat on Bitcoin network strength, while another commentator flags a “compelling” risk/reward ratio at $20,000. Bitcoin (BTC) has not been this good value since it cost $1,130, one analyst argues as BTC offers a “compelling” risk/reward ratio. In a Twitter thread on July 7, Jurrien Timmer, director of global macro […]
Dollar gains after US payrolls beat forecast on July 9, 2022The US dollar rose on Friday after data showed the world’s largest economy created more jobs than expected in June, cementing expectations of another 75 basis-point hike at the Federal Reserve’s policy meeting later this month. Earlier in the session, the greenback hit a fresh two-decade high against a basket of currencies, led by gains […]
Gold price increases by Rs200 to Rs142,200 per tola on July 9, 2022The price of 24 karat per tola gold witnessed an increase of Rs200 per tola and was sold at Rs142,200 on Friday against its sale at Rs142,000 the previous day in the local market. The price of 10-gram 24 karat fold also increased by Rs172 and was sold at Rs121,914 against its sale at Rs121,742 […]
Bitcoin heads toward best week since October on July 9, 2022The price of bitcoin got a small relief bounce this week as investors hoped that the worst of the crypto liquidity crisis is over. By Friday, bitcoin had risen about 11pc for the week and is on pace for its best week since October, according to Coin Metrics. The price rose as high as $22,478.37 […]
Gold prices decline by Rs1000, hits Rs142,000 per tola on July 8, 2022The price of 24 karat per tola gold witnessed a decline of Rs1000 and was sold at Rs142,000 on Thursday against Rs143,000 the previous day in the local market. The price of 10-gram 24 karat gold also decreased by Rs858 and was sold at Rs121,742 against Rs122,600 the previous day, whereas the prices of ten-gram […]
Rupee strengthens against dollar on July 8, 2022Exchange rate of the Pakistan rupee appreciated by 09 paisas against the US dollar in the interbank trading on Thursday and closed at Rs207.90 against the previous day’s closing of Rs207.99. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs206 and […]
Bitcoin flat at $20,000; Ether, Dogecoin rise on July 8, 2022The crypto markets saw a slight rebound on Thursday, July 7 even though its sentiment continued to remain in the extreme fear zone. The crypto market on the day rose slightly on all major coins showing an increase in their values, including Bitcoin, Ethereum, Solana and others. All this made the global cryptocurrency market inch […]
Rupee weakens against dollar on July 7, 2022Exchange rate of the Pakistan rupee depreciated by Rs1.06 against the US dollar in the interbank trading on Wednesday and closed at Rs207.99 against the previous day’s closing of Rs206.93. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs206 and Rs209.5 […]