Rate hike bets subdue gold prices even as economic slowdown fears mount on June 30, 2022Gold fell in range-bound trading on Wednesday as prospects of elevated interest rates continued to override its safe-haven appeal to some extent despite looming recession risks. Spot gold fell 0.2pc to $1,817.00 per ounce by 0920 GMT, holding a tight range between $1,814.30 – $1,822.76. US gold futures were down 0.2pc to $1,817.60. “The increasingly […]
Bitcoin briefly drops below $20,000 again as pressure continues to mount on June 30, 2022BitcoinBitcoin briefly fell below $20,000 on Wednesday as a number of factors from macroeconomic worries to issues with cryptocurrency companies continue to weigh on the market. The world’s largest cryptocurrency was last trading down less than 1pc at around $20,070.77, according to CoinMetrics data. Earlier on Wednesday, bitcoin fell as low as $19,841. Other digital […]
Rupee gains Rs1.07 against dollar on June 29, 2022Exchange rate of the Pakistan rupee appreciated by Rs1.07 against the US dollar in the interbank trading on Tuesday and closed at Rs206.87 against the previous day’s closing of Rs207.94. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs206.5 and Rs208.75 […]
Gold price decreases by Rs350 to Rs141,500 per tola on June 29, 2022The price of 24 karat per tola gold witnessed a decrease of Rs350 per tola and was sold at Rs141,500 on Tuesday against its sale at Rs141,850 the previous day in the local market. The price of 10-gram 24 karat fold also decreased by Rs301 and was sold at Rs121,313 against its sale at Rs121,614 […]
UAE close to OPEC+ oil output ceiling: official on June 29, 2022The United Arab Emirates is close to its oil output ceiling under OPEC+ agreements, an official said, ahead of a regional visit by US President Joe Biden, who is expected to lobby for increased production. The Gulf state stressed it was committed to the OPEC+ figure of 3.168m barrels of oil per day (bpd). Biden […]
Rupee sheds 47 paisas against US dollar on June 28, 2022Exchange rate of Pak Rupee weakened by 47 paisas against the US Dollar in the interbank trading on Monday and closed at Rs207.94 against the previous day’s closing of Rs207.47. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs206 and Rs208.5 […]
Gold price increases by Rs850 to Rs141,850 per tola on June 28, 2022The price of 24 karat per tola gold witnessed an increase of Rs850 per tola and was sold at Rs141,850 on Monday against its sale at Rs141,000 the previous day in the local market. The price of 10-gram 24 karat fold also increased by Rs729 and was sold at Rs121,614 against its sale at Rs120,885 […]
PSX gains 826 points, closing at 41,878 points on June 28, 2022The KSE 100-index of the Pakistan Stock Exchange (PSX) on Monday witnessed bullish trend, gaining 826.78 points, a positive change of 2.01pc, closing at 41,878.57 points against 41,051.79 points on the last working day. A total of 247,901,404 shares were traded during the day compared to the trade of 424,229,317 shares the previous day, whereas […]
Bitcoin and Ethereum rise; Celsius prepares for bankruptcy on June 27, 2022Bitcoin, the leading cryptocurrency internationally, traded higher on Sunday, rising by 0.93pc to $21,420.15 as of 8:10 a.m. Riyadh time. Ethereum, the second most traded cryptocurrency, was priced at $1,237.88, rising by 1.38pc, according to data from Coindesk. The Wall Street Journal reported Friday that Celsius Network LLC hired restructuring experts from Alvarez & Marsal […]
Pakistan-IMF deal to be sealed tomorrow on June 27, 2022According to the Ministry of Finance, the International Monetary Fund (IMF) will present economic and fiscal policies for the purpose of a new agreement to provide Pakistan with an economic aid package. Finance Minister Miftah Ismail told the National Assembly that the continuation of the IMF programme was very likely despite the negative mood prevailing […]