Gold prices edged lower on Friday and were on track for a weekly loss amid inflation concerns and potential US Federal Reserve interest rate hikes. Fundamentals Spot gold was down 0.3% at $4,200.82 per ounce, as of 0101 GMT, and was set for a weekly loss of 2.8%. US gold futures for August delivery rose 2.6% to $4,222.10. Gold fell to an over six-month low on Thursday before closing hi
The dollar found its footing in early trading on Friday, after sliding to its weakest in a week as traders parsed reports that a ceasefire deal in the Middle East could be imminent. Against the yen , the US currency was up 0.1% at 160.07 yen. The Australian dollar was down 0.1% at $0.7045, while its kiwi counterpart was down 0.1% at $0.5830. The euro last bought $1.1576, holding near its
Oil prices fell on Friday, extending losses from the previous session after US President Donald Trump canceled plans to strike Iran, reducing fears of an escalation of hostilities following tit-for-tat attacks earlier in the week. Brent futures fell $1.21 or 1.3% to $89.17 a barrel at 0042 GMT, while US West Texas Intermediate (WTI) crude was $1.23, or 1.4%, lower at $86.48. On a weekly
Selling pressure continued at the Pakistan Stock Exchange (PSX) with the benchmark KSE-100 Index shedding over 300 points during the opening minutes of trading on Thursday. At 9:39am, the benchmark index was hovering at 169,091.20, down by 336.24 points or 0.20%. Meanwhile, selling pressure was observed in key sectors including automobile, cement, and commercial banks. On Wednesday, the b
Asian stocks fell on Thursday, weighed down by a Wall Street selloff after a hotter-than-expected U.S. inflation reading, while renewed US strikes on Iran fuelled a rise in oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.9%, led by a 3% drop in South Korea’s KOSPI. S&P 500 e-mini futures were 0.3% lower. The United States began a fresh round of strikes aga