Gold advanced for a fourth straight session on Thursday and touched its highest level in seven weeks, helped by weaker oil prices, a softer dollar and lower Treasury yields, on growing hopes over the Strait of Hormuz reopening. Spot gold was up 1% at $4,285.84 per ounce by 0132 GMT, the highest level since June 18. On Wednesday, bullion posted its biggest daily gain since February. US gold
Oil prices slipped on Thursday as investors assessed whether progress in Iran-Oman talks could pave the way for a U.S.-Iran peace deal to end the five-month war and reopen the Strait of Hormuz. Brent crude futures fell 37 cents, or 0.5%, to $79.08 a barrel by 0024 GMT. US West Texas Intermediate futures declined 53 cents, or 0.7%, to $74.69 a barrel. Brent settled up slightly on Wednesday,
Buying rally continued at the Pakistan Stock Exchange (PSX) amid comments by Qatari and US officials that raised hopes for a diplomatic resolution to the Iran war, with the benchmark KSE-100 Index gaining over 2,300 points during intraday trading on Wednesday. At 12:09pm, the benchmark index was hovering at 179,386.57, up by 2,303.35 points or 1.30%. Positive momentum was observed in key sec
The State Bank of Pakistan (SBP) has granted pilot operations approval to HugoBank, a Karachi-based digital retail bank. Under this pilot approval, HugoBank will be able to test its products, banking systems, and operational readiness with a limited number of customers in a real-world environment, read a statement released on Wednesday. The purpose of this phase is to ensure that security me
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced on Wednesday a unified transhipment incentive package offering major concessions at Karachi Port and Port Qasim to cut cargo handling costs and attract regional shipping traffic. The package, jointly introduced by the Karachi Port Trust (KPT), Port Qasim Authority (PQA) and their container terminal operators, include