Bitcoin briefly jumps above $23,000 on July 29, 2022Bitcoin briefly surpassed $23,000, following stocks higher after the Federal Reserve of the United States raised interest rates but suggested the pace of hikes could slow. Cryptocurrencies have historically been highly correlated with US stocks, particularly the Nasdaq, which rose 4% on Wednesday. According to CoinMetrics data, Bitcoin was trading at $23,789.75 at 12:39 p.m. […]
Pakistani rupee dives to 240 per US dollar on July 29, 2022The Pakistani rupee continued its free fall and dropped to a record low against the US Dollar amid political crisis. The latest reports said that greenback was being traded around Rs239.5 in interbank after appreciating by Rs3.48 compared to previous close of Rs236.02. Moody’s Investors Service and Fitch Ratings, however, said that they expected Pakistan […]
Biden says us economy ‘on the right path’ despite GDP dip on July 29, 2022President Joe Biden insisted Thursday that the US economy was “on the right path,” with solid job growth, despite a second straight quarter of contraction that has deepened fears of a recession. “It’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,” Biden said after the growth […]
Bitcoin holds at $21k after shaky start to the week on July 28, 2022Bitcoin continued to drift back towards $20k yesterday, as investors brace for the US Federal Reserve’s expected 75 basis point rate hike. The largest cryptocurrency by market cap was changing hands at about $21,368 at time of writing, up about 1 per cent over the past 24 hours but down more than 8 per cent […]
Gold price up by Rs2500 to Rs152,000 per tola on July 28, 2022The price of 24 karat per tola gold witnessed an increase of Rs2500 per tola and was sold at Rs152,000 on Wednesday against its sale at Rs149,500, the previous day in the local market. The price of 10-gram 24 karat gold also increased by Rs2143 and was sold at Rs130,315 against its sale at Rs […]
Nasdaq short interest dips 0.9pc in mid-July on July 28, 2022Short interest on the Nasdaq fell 0.9pc in mid-July, the exchange said late Tuesday. As of July 15, short interest dipped to about 13.058b shares, compared with 13.173b shares as of June 30. Investors who sell securities “short” borrow shares then sell them, expecting the stock to fall so they can buy the shares back […]
Gold price up by Rs1200 to Rs149,500 per tola on July 27, 2022The price of 24 karat per tola gold witnessed an increase of Rs1200 per tola and was sold at Rs149,500 on Tuesday against its sale at Rs148,300, the previous day in the local market. The price of 10-gram 24 karat gold also increased by Rs1029 and was sold at Rs128,172 against its sale at Rs127,143, […]
PSX gains 50 points, closing at 39,894 points on July 27, 2022The KSE 100-index of the Pakistan stock exchange (PSX) witnessed bullish trend on Tuesday, gaining 50.03 points, a positive change of 0.13pc, closing at 39,894.05 points against 39,844.02 points on the last working day. A total of 131,861,157 shares were traded during the day compared to the trade of 75,431,807 shares the previous day, whereas […]
Bitcoin sinks to one-week low as another fed rate increase looms on July 27, 2022Bitcoin sank to a more than one-week low, buffeted by investor skittishness ahead of a looming Federal Reserve interest-rate hike and amid harsher regulatory scrutiny of the cryptocurrency sector. The largest token dropped as much as 6.2pc on Tuesday and was trading at around $20,924 as of 10:02 a.m. in New York. The MVIS CryptoCompare […]
Gold price up by Rs2000 to Rs148,300 per tola on July 26, 2022The price of 24 karat per tola gold witnessed an increase of Rs2000 per tola and was sold at Rs148,300 on Monday against its sale at Rs146,300, the previous day in the local market. The price of 10-gram 24 karat gold also increased by Rs1714 and was sold at Rs127,143 against its sale at Rs125,429, […]