The prices of gold in the markets across Pakistan continued to drop for the third consecutive day, according to the All Pakistan Sarraf Association (APSA). The price of gold per tola decreased by Rs. 8,700 to Rs. 524,056. The price of 10 grams of gold also dropped by Rs. 7,459 to Rs. 449,727. The global market saw a slight decrease in gold prices, with the price per ounce dropping to $50.18.
The Pakistan Petroleum Division has announced that petroleum products will remain at their current prices, and a ban has been imposed on the sale of petroleum products in bottles and gallons in the district of Karak. The Securities and Exchange Commission of Pakistan (SECP) has increased the limit for investing in the stock market through a single account from Rs. 10 million to Rs. 30 million.
The Pakistan Stock Exchange (PSX) saw a negative trend in the previous business week. The prices of gold in the markets across Pakistan dropped for the second consecutive day.
Pakistan has launched a new feeder service from Karachi Port to the United Arab Emirates. The price of liquefied natural gas (LNG) on the Sui Southern Gas Company system has increased by $2.26 per MMBtu.
The price of 10 grams of gold decreased by Rs. 2,486 to Rs. 463,273. The United States administration has initiated an investigation into alleged unfair trade practices by 16 major trading partner countries, including China, India, and Bangladesh. The investigation may result in new import duties being imposed by the end of the summer.
The International Monetary Fund (IMF) and Pakistan have issued a joint statement following recent negotiations. The Governor of the French Central Bank, Francois Villeroy de Galhau, has warned that the increasing fuel prices may require new subsidies to mitigate their effects.
The OGRA has announced that the prices of liquefied petroleum gas (LPG) will be set on the first day of every month. The price of gold per tola has increased by Rs. 3,700 to Rs. 543,262.
The S&P BSE Sensex has gained 0.4% to 78,897 points. The 100 Index closed at 1,561,177 points on the last day of the previous week. Sources indicate that no international company has shown interest in supplying three vessels.
Social media has been flooded with various reports and speculations. On March 12, Israeli Prime Minister Naftali Bennett released a video message to the Supreme Leader of Iran, threatening the country with military action.
In a social media post, Pakistan cricket legend Babar Azam praised the leadership of Sarfaraz Ahmed, who has been awarded an honorary shield for his services to Pakistan cricket. Abbas Araghchi, Iran’s Deputy Foreign Minister, claimed that the United States is now begging other countries, including China, for help to secure the Strait of Hormuz.
The Iranian Revolutionary Guard has claimed to have launched missile and drone attacks on American airbases in the UAE and Saudi Arabia. Pakistani cricket legend, Mohsin Nawaz, has praised Sarfaraz Ahmed’s services to Pakistan cricket and has awarded him an honorary shield for his services. The Iranian Revolutionary Guard has stated that the attacks were a response to the US presence in the region and that they have used multi-platform, long-range, targetable missiles.
