Gold soared to a record high on Monday, lifted by safe-haven demand amid renewed US-China trade tensions and expectations of US Federal Reserve interest rate cuts, while silver also surged to an all-time high. Spot gold was up 0.7% at $4,044.29 per ounce, as of 0253 GMT, after hitting a record high of $4,059.30 earlier in the session. US gold futures for December delivery rose 1.6% to $4,062
China called US President Donald Trump’s latest tariffs on Chinese goods hypocritical on Sunday and defended its curbs on exports of rare earth elements and equipment, but stopped short of imposing new levies on US products. Trump on Friday responded to Beijing’s most recent export controls by imposing additional tariffs of 100 percent on China’s US-bound exports, along with new export controls
Oil prices clawed back some gains on Monday after hitting five-month lows in the previous session as investors hoped potential talks between the presidents of the U.S. and China could ease trade tensions between the world’s two largest economies and oil consumers. Brent crude futures rose 87 cents, or 1.39%, to $63.60 a barrel by 0045 GMT after settling down 3.82% on Friday to the lowest since
Shahtaj Sugar Mills Limited on Monday announced that its power plant has successfully achieved the Commercial Operation Date (COD) today, following the completion of all required commissioning tests. “After successful completion of commissioning tests under Section 8.3 of Energy Purchase Agreement (EPA) and the issuance of Capacity Test Certificate and certificate of the commissioning of the co
The Pakistani rupee improved against the US dollar, appreciating 0.05% during the opening hours of trading in the inter-bank market on Monday. At 10:05am, the currency was hovering at 281.02, a gain of Re0.15 against the greenback. During the previous week, the Pakistan rupee posted a marginal gain for another week as it appreciated by Re0.09 or 0.03% against the US dollar in the inter-bank