Gold prices rose more than 1% on Monday, buoyed by expectations of another Federal Reserve interest rate cut in December and a slew of weak economic data that raised global slowdown worries. Spot gold gained 1.4% to $4,053.40 per ounce by 0435 GMT. US gold futures for December delivery rose 1.3% to $4,062.40 per ounce. “Gold is catching a solid bid from traders to kick off the week, with th
The Pakistani rupee continued to gain further ground against the US dollar, appreciating 0.07% during the opening hours of trading in the inter-bank market on Monday. At 10am, the currency was hovering at 280.62, a gain of Re0.2 against the greenback. During the previous week, the Pakistani rupee posted marginal gain as it appreciated by Re0.09 or 0.03% against the US dollar in the inter-ban
Ecopack Limited (ECOP) announced on Monday the appointment of key executives. ECOP shared in a notice to the Pakistan Stock Exchange (PSX) today. The notice said that the appointments were made in the 149th meeting of the Board of Directors of the company held on November 8. “Asad Ali Sheikh has been appointed as Chairman of the Board of Directors of the company for the period of three ye
Oil prices rose on Monday on optimism that the US government shutdown could end soon and lift demand in the world’s top oil consumer, offsetting concerns about rising supplies globally. Brent crude futures rose 45 cents, or 0.71%, to $64.08 a barrel by 0426 GMT. US West Texas Intermediate crude was at $60.23 a barrel, up 48 cents, or 0.80%. An end to the historic US government shutdown, n
The Pakistan Stock Exchange (PSX) lost further ground on Wednesday as the benchmark KSE-100 index dropped over 1,700 points, mainly due to the absence of major triggers required to encourage investors to build their positions. A day ago, the market had shed 1,521 points, driven by profit-taking at higher valuations. Though the market started Wednesday's session on a positive note and remained i