Article:
Pakistan’s currency markets witnessed a significant drop in gold prices, with the All Pakistan Sarraf James and Jewelers’ Association reporting a decrease of 2,900 rupees per tola. This brings the price of gold to 5 lakh 40 thousand 362 rupees. The price of 10 grams of gold also saw a decrease of 2,486 rupees, bringing it down to 4 lakh 63 thousand 273 rupees. On the other hand, the global market saw a decline in gold prices, with the price dropping to 5,176 dollars per ounce.
The recent drop in gold prices marks the third consecutive decrease in the country’s currency markets. The Petroleum Division’s announcement stated that petroleum products will remain at their current prices, except for a ban on the sale of bottled and gallon petroleum products in the district of Karak.
The Securities and Exchange Commission of Pakistan (SECP) announced an increase in the investment limit for security accounts, raising the limit from 10 to 30 lakh rupees. The Pakistan Stock Exchange (PSX) saw a negative trend in the previous business week, with a decrease in gold prices in the country’s currency markets.
Pakistan has launched a new feeder service to the United Arab Emirates, with the Karachi Port serving as the hub. The notification stated that the price of liquefied natural gas (LNG) on the Sui Southern System has increased by 2.26 dollars per MMbtu.
The United States has launched an investigation into alleged unfair trade practices by 16 major trading partner countries, including China, India, and Bangladesh. The investigation may lead to the imposition of new import tariffs by the end of the summer season.
Pakistan and the International Monetary Fund (IMF) have released a joint statement following recent negotiations between the two parties. France’s central bank governor, Francois Villeroy de Galhau, has warned that the country’s financial situation may be worsened by the rising fuel prices, and that new subsidies may not be effective in reducing the impact.
The Ogra announcement stated that the prices of liquefied petroleum gas (LPG) will be fixed on the first of every month. The price of gold has seen a significant increase of 3,700 rupees per tola, bringing it to 5 lakh 43 thousand 262 rupees.
The BSE Sensex has seen a 0.4% increase, standing at 77,897 points. The 100 index closed at 1 lakh 56 thousand 177 points on the previous business day. Sources have reported that a global company has shown no interest in supplying three ships.
In a social media post, US President Donald Trump expressed hope that countries such as China, France, Japan, South Korea, and the UK will send warships to the region. The International Cricket Council (ICC) has issued a formal warning to Pakistani batsman Salman Ali Agha for violating the code of conduct, and has deducted 1 demerit point.
Prime Minister Shehbaz Sharif has announced that government savings measures will involve a reduction of 5-30% in salaries of employees of autonomous institutions under the government and public sector. The reduction will be used to provide relief to the public.
The Pakistan Cricket Board (PCB) has announced that Hussain Tahir’s left shoulder has been dislocated, and that he will not be able to participate in the second ODI against Bangladesh.
The activities of oil companies operating in the region remain unaffected, according to Iranian officials. Security sources have stated that operations under the “Anger for the Truth” operation will continue until the objectives are achieved.
