Business
Gold climbs as investors evaluate prospects for US-Iran deal
Prices of the black stuff surged more than 1% on Monday, aided by a weaker dollar and falling oil prices as investors considered the chances of a breakthrough in U.S.-Iran peace discussions.
Spot gold gained 1.1% to $4,559.29 per ounce as of 0359 GMT. U.S. gold futures for June delivery rose 0.8% to $4,560.30.
The dollar declined, making greenback-priced bullion more cheap for holders of other currencies.Trump has stoked market hopes of some type of deal with Iran that may see the Strait of Hormuz reopened. “The prospect has weighed on oil prices and, by extension, given gold a welcome lift from an inflation perspective,” said Tim Waterer, chief market analyst at KCM Trade.
U.S. President Donald Trump said on Sunday he had told his representatives not to rush into any deal with Iran, as his administration played down expectations of an imminent breakthrough in the three-month-old battle.
Trump declared a day earlier that Washington and Iran had “largely negotiated” a memorandum of understanding for a peace accord that would reopen the Strait of Hormuz.
Oil prices dropped to two-week lows on Monday on hope that the U.S. and Iran were moving closer towards a peace accord even as both countries remained at odds over critical issues.
Oil prices affect inflation expectations. Higher crude can stoke inflation and keep rates higher for longer. Gold is seen as a hedge against inflation, although higher rates tend to weigh on the non-yielding metal.
Kevin Warsh was sworn in Friday as chair of the U.S. Federal Reserve at a critical time for an American economy buffeted by increasing gasoline costs that are feeding inflation and eating into consumer confidence because of the war with Iran.
Silver was up 2.8% at $77.61 an ounce, platinum gained 1.9% to $1,958.35 and palladium climbed 2.3% to $1,379.31.
Business
For three days, Pakistan lowers the price of petrol and diesel.
For a three-day period starting on August 1, the government has announced a slight decrease in the cost of petroleum products, including gasoline and high-speed diesel (HSD).
The Petroleum Division said that the price of high-speed diesel has been lowered by Rs0.66 per litre, resulting in a new retail price of Rs392.38 per litre.
Additionally, the price of gasoline has been lowered by Rs0.12 per litre, to Rs336.03 per litre.
According to the letter, the updated pricing will go into effect between August 1 and August 3.
According to the administration, the little cut was taken after accounting for both domestic economic and budgetary factors as well as global oil costs.
In light of persistent economic pressures and swings in the world’s crude oil markets, the most recent adjustment provides customers with little respite.
The most recent update comes after the government regularly reviews fuel costs, which are decided by the currency rate, domestic tax laws, and global market trends.
Business
FBR surpasses its July revenue goal by Rs40 billion.
In July 2026, the Federal Board of Revenue (FBR) collected Rs820 billion in net revenue, exceeding the monthly target by Rs40 billion.
The July tax collection target was set at Rs780 billion, but net receipts came in at Rs820 billion, according to FBR documents.
According to the papers, gross tax collections for the month totaled Rs918 billion. Net receipts were Rs820 billion after Rs98 billion of this sum was reimbursed to taxpayers under different refund categories.
Gross collections under the income tax head was Rs343 billion. Net income tax revenues fell short of the objective of Rs323 billion, coming in at Rs308 billion after the payment of Rs35 billion in refunds.
In July, sales tax collections came to Rs413 billion, while sales tax refunds were Rs53 billion.
The Federal Excise Duty (FED) collected Rs48 billion, compared to the objective of Rs47 billion, according to the FBR.
In July 2026, customs duty receipts totaled Rs115 billion, surpassing the designated objective of Rs105 billion by Rs10 billion.
Business
Foreign investors return to PSX after almost two years
Foreign investors became net purchasers at the Pakistan Stock Exchange (PSX) for the first time in almost two years, indicating restored confidence in the country’s capital market at the beginning of the current fiscal year.
According to official data, foreign investors invested $34.4 million in the PSX in July 2026, a significant reversal from June 2026 when they sold $180 million worth of shares and pulled money out of the market.
The data showed that foreign investors were net buyers for the first time in nearly 23 months, with banking and exploration companies receiving the greatest investment in the month.
Foreign investors made investments in the banking sector to the tune of $13.8 million during July, while investments in exploration businesses amounted to $6.7 million.
However, the data also revealed that international investors preferred to dispose of cement stocks over the same period.
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