Business

Gold slips on increased US-Iran tensions

Published

2 months ago

June 10, 2026

Bilal

Gold sank more than 1% on Wednesday, hitting an 11-week low, as the dollar and oil prices increased on the renewed hostilities between the United States and Iran, raising concerns about inflation and interest rate hikes.

Spot gold fell 1.8% to $4,187.59 an ounce by 0230 GMT, the lowest since March 23. U.S. gold futures fell 1.7% to $4,213.40 in August.

The dollar increased, making dollar-priced bullion more expensive for holders of other currencies. Oil prices climbed 1%, increasing worries about inflation and solidifying expectations that interest rates would stay higher for longer.The driver is actually the shift in Fed policy expectations, the rise in rates, and the rise in the currency. “I think all of those things are hanging over gold,” said Tastylive’s head of global macro Ilya Spivak.

The United States struck Iran on Tuesday after President Donald Trump said Tehran had downed a U.S. Apache helicopter in the Strait of Hormuz, increasing uncertainties over a prospective peace accord and further straining a fragile truce.

The CME FedWatch tool showed traders were pricing in more than a 70% possibility of a Federal Reserve interest rate hike by December. fedwatch .

Gold is viewed as a hedge against inflation but rising interest rates tend to impact on the non-yielding metal.

Markets are eyeing important U.S. inflation reports this week, with May Consumer Price Index data due later in the day and the Producer Price Index ⁠ reading on Thursday, to help evaluate the Fed’s monetary policy stance.“If we can get through $4,100, I think the path of resistance fundamentally changes for gold and we may be starting to look at $3,500 as the next level into the end of the year,” Spivak said.

Spot silver declined 1.5 percent to $64.43 an ounce, platinum dropped 2.8 percent to $1,678.10 and palladium slid 0.8 percent to $1,212.31.

Business

Sindh CS reviews high level warning on monsoon rains, wheat hoarding

Published

4 hours ago

July 25, 2026

Bilal

China announced on Friday it was adding 14 European entities to an export control list in retaliation for the European Union penalizing 14 Chinese enterprises as part of its latest round of sanctions against Russia.

Chinese companies will not be allowed to export dual-use items, which can be used for both civilian and military purposes, to the 14 European organizations, China’s Commerce Ministry said in a statement.

Additionally, foreign companies are barred from providing to the 14 entities dual-use items made in China.

The European companies affected include Czech vehicle manufacturer Tatra Trucks, Italian electric motor maker Lafert SpA, German manufacturer Sindlhauser Materials GmbH and French drone manufacturer Cavok UAS.

A Chinese Commerce Ministry spokesperson said the measures were taken in retaliation for the E.U. on Thursday adding 14 mainland Chinese and Hong Kong enterprises to its latest list of sanctions against Russia over its war in Ukraine.

The measures are intended “to safeguard national security and interests, and to fulfill international obligations such as non-proliferation, in response to the E.U.’s egregious actions,” the spokesperson said.

The E.U. on Thursday adopted its 21st package of sanctions against Russia targeting banks, cryptocurrency companies and military equipment manufacturers among other categories. The sanctions included entities from other countries such as China, India and Turkey, believed to provide Russia with dual-use goods and technology.

Business

Govt maintains petrol and diesel prices till July 27

Published

5 hours ago

July 25, 2026

Bilal

Petroleum Division said that the pricing of petrol and high-speed diesel will not be adjusted till July 27.

Prices of petrol and diesel will not change over the weekend and the existing rates will continue, the Petroleum Division said in an official notification.

“The notification stated that the existing prices of petrol, high-speed diesel and other petroleum products will remain intact till July 27 (Monday) and the consumers will be able to purchase fuel at the existing rates during this period.

The government has also not announced any hike or cut in the price of petroleum products, officials said.

The present pricing will remain in force until the next price review, when a new decision will be taken.

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Business

Petrol Rs20.81, diesel Rs55.36 a litre in a week on daily pricing

Published

18 hours ago

July 25, 2026

Bilal

Petrol and diesel prices have seen a dramatic increase of Rs20.81 per litre and Rs55.36 per litre respectively within a week under Pakistan’s newly established daily petroleum pricing scheme.

The petroleum division said that under the new pricing mechanism, petrol price was jacked up by Rs5.44 per litre and diesel Rs31.05 per litre from July 18.

On July 21, petrol prices were slashed by 35 paisas per litre, while diesel prices were raised by Rs5.71 per litre.

The petrol prices were increased by Rs4.93 per litre and Rs7.15 per litre for diesel on July 22. On July 23, a day later, the petrol price was increased by Rs6.39 per litre and diesel by Rs7.83 per litre.

On July 24, petrol prices were increased by Rs4.40 per litre and diesel by Rs3.62 per litre.

On July 17, the federal cabinet had decided to start daily pricing of petroleum products and had authorised the Oil and Gas Regulatory Authority (OGRA) to fix the rates of fuel on a daily basis in line with the international market trends.

After the last modification, petrol prices are now Rs335.18 a litre while diesel is being offered at Rs383.46 a litre.