Gold prices rose on Wednesday, rebounding from a one-week low hit in the previous session as markets await the release of the Federal Reserve’s January meeting minutes for hints about the rate-cut outlook. Spot gold rose 1.1% to $4,929.69 per ounce by 0414 GMT, after declining more than 2% on Tuesday. US gold futures for April delivery gained 0.9% to $4,949.20. “Broadly speaking, $4,700 t
Oil prices steadied in Asian trade on Wednesday after falling about 2% in the previous session as investors assessed progress in US–Iran talks but remained cautious about the prospects of a final deal that could ease supply concerns. Brent futures rose 23 cents or 0.34% to $67.65 a barrel by 0412 GMT, while US West Texas Intermediate (WTI) crude was up 19 cents or 0.3% at $62.52. Both are aroun
Selling pressure returned to the Pakistan Stock Exchange (PSX) on Tuesday following a positive start, with the benchmark KSE-100 Index shedding nearly 2,200 points during the opening hours of trading. At 11:15am, the benchmark index was hovering at 172,278.79, down 2,175.14 points or 1.25%. Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, oil an
Oil & Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production (E&P) company, has enhanced oil production from its Kal-03 well by 1,400%. The well is located in Chakwal district, Punjab. The listed E&P disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Monday. OGDC said that the enhancement was achieved by successfully carrying out a wo
The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Monday. At close, the local currency settled at 279.61 against the greenback.On Friday, the local currency closed at 279.62, according to the State Bank of Pakistan (SBP). Internationally, the Japanese yen started the week on the back foot after strong gains last week on easing fiscal worries, whil