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Gold steadies on dip-buying after hitting nearly 1-month low

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After falling to a one-month low due to growing oil-driven inflation and predictions of prolonged interest rate hikes, gold prices stabilized on Monday due to dip-buying.

As of 0241 GMT, spot gold was unchanged at $4,540.36 per ounce, following its lowest level since March 30 earlier in the day.

U.S. gold futures for June delivery fell 0.4% to $4,543.70.Gold prices are currently experiencing a rise owing to profit-taking, but being in a difficult sideways range, according to Kelvin Wong, a senior market analyst at OANDA.

Gold plummeted to its lowest since March 30 earlier in the session as Middle East tensions raised oil prices, raising fears about inflation and longer-term interest rates.

UAE officials reported a drone strike causing a fire at a nuclear power station on Sunday.

Saudi Arabia intercepted three drones, while U.S. President Donald Trump urged Iran to act “fast” amid stalled U.S.-Israeli ceasefire attempts.

Oil prices rose to a two-week high on Monday.

Concerns about inflation stem from high oil prices. Central banks raise interest rates amid inflation, decreasing the appeal of non-yielding bullion.

According to CME Group’s FedWatch tool, markets are pricing in a 50% possibility of a U.S. Federal Reserve rate hike by December before year-end.

Investors await the Fed’s April meeting minutes, expected this week, for monetary policy guidance.

On Saturday, India, the world’s largest silver consumer, banned imports in all forms to reduce shipments and stabilize the rupee.

Silver slid 0.8% to $75.38 per ounce, platinum 0.1% to $1,972.10, and palladium 1.3% to $1,394.75.

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Jet fuel price rises by Rs9.05 per litre in Pakistan

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 Jet fuel prices have once again increased in the country, along with the price of kerosene oil.

The price of jet fuel has been increased by Rs9.05 per litre, while kerosene oil has become Rs7.68 per litre more expensive.

Following the increase, the new price of jet fuel has been fixed at Rs355.52 per litre, while kerosene oil will now cost Rs329.54 per litre.

Meanwhile, according to a notification issued by the Petroleum Division, the price of petrol has also been increased by Rs2.10 per litre, taking its new price to Rs392.76 per litre.

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Govt sets deadline of 20th Oct for pilgrims to pay 2nd Hajj installment

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The religious affairs ministry stated late Friday that the federal government has fixed October 20 as the deadline for intending pilgrims selected under the government Hajj system to deposit the second installment of their pilgrimage dues.

ISLAMABAD: Pakistan has set aside 107,526 slots for the government plan, including 30,000 for a shorter package, and another 71,696 slots have been granted to the private scheme for next year’s Hajj.

The country on Aug. 25 completed online booking of all tickets in the government Hajj scheme, the first time the whole quota has been filled through a digital reservation system.

The ministry of religious affairs said in a statement on Friday that the applications of pilgrims for next year’s Hajj will be cancelled if they did not pay by the deadline.

“The dates for depositing the second installment of dues for Hajj pilgrims under the government scheme have been fixed from 5 October to 20 October, 2026,” the ministry said.

“If the second installment is not deposited within the deadline, then the Ministry said the pilgrim’s application will be cancelled and the amount deposited earlier will be refunded to the pilgrim’s account,” the Ministry said.

Under the government arrangement, pilgrims can pay the second payment of Hajj dues through the ‘Pak Hajj App’ or digital Hajj site within the stipulated deadline.

The government said that submitting the Hajj medical fitness certificate on the ‘Pak Hajj’ app or the digital Hajj portal was essential before depositing the second installment.

This year the government announced that pilgrims will pay Rs1.2 million ($4,334) for a 40-day Hajj package and Rs1.3 million ($4,695) for a shorter, 20- to 25-day package under the government system.

The first installment of dues for seats under the shorter government package was paid within 24 hours of the process starting on Aug 18 and the rest of the seats under the plan were booked by Aug 25.

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Petrol price goes up by Rs2.10, diesel by 30 paisa a liter:

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– Petrol and diesel prices have been increased once again under the latest fuel-price revision.

The revised prices will take effect from October 3, 2026.

According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs2.10 per litre. Following the latest increase, petrol will now cost Rs392.76 per litre.

The price of high-speed diesel has also been raised by 30 paisa per litre, taking its new rate to Rs399.64 per litre.

The Petroleum Division said the announced rates are linked to movements in international petrol and diesel prices.

According to the notification, changes in the global market, Platts rates, premiums and other associated costs were taken into account when determining the revised prices.

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