Sport
Chinese firms sign pacts for investment
字号+ Author: Source:Sport 2025-01-15 21:46:40 I want to comment(0)
KARACHI: Amid uncertain political and economic environment, domestic gold prices a record-setting sp
KARACHI: Amid uncertain political and economic environment, domestic gold prices a record-setting spree on Wednesday, tossing the 10-gram and one-tola rates to an all-time high of Rs236,197 and Rs275,500, respectively, up by Rs2,144 and Rs2,500, from Tuesday’s rates. The All Pakistan Gem and Jewellery Association (APGJA) attributed the surge in local prices to a $25 per ounce jump in the world markets to $2,653. All Karachi Jewellers and Manufacturers Association Chairman Mohammad Haseen Qureishi said the rising prices drive away the buyers and “we are running our shops with only 30-35 per cent footfall of consumers”. He said that the buyers of 10-tola jewellery sets have now settled toward two to three tola, and others rely on half a tola jewellery items due to their shrinking buying power. Samiullah Tariq, head of research and development at Pak Kuwait Investment Company Ltd, said the people in Pakistan were preferring to invest in gold rather than in real estate and US dollars due to an uncertain economic outlook. APGJA Chairman Haroon Rasheed Chand said investors worldwide have moved towards the yellow metal after interest rate cut by the Federal Reserves and Chinese central bank, followed by uncertain political situation arising from Israeli attacks on Gaza and Lebanon and reports of economic crisis in many countries.
1.This site adheres to industry standards, and any reposted articles will clearly indicate the author and source;
Related Articles
-
Shares at PSX shed over 300 points on power sector concerns
2025-01-15 21:35
-
WATCH: Tents sheltering displaced Palestinians unsafe as Israeli attacks continue
2025-01-15 21:06
-
Stakeholders finalise Astola Island management plan to preserve biodiversity
2025-01-15 19:33
-
Israeli military claims killing key Hamas fighter
2025-01-15 19:16
User Reviews
Recommended Reads
Hot Information
- Nuking a huge asteroid could save Earth, lab experiment suggests
- Israel launches ground invasion of Lebanon, saying ‘targeted raids’ aimed at Hezbollah
- Veteran cricket umpire Aleem Dar to retire at end of 2024-25 domestic season
- Belarus keen on working with CDA in acquiring electric buses
- Islamic banking — beyond a niche
- Le Pen goes on trial on charges of embezzlement
- Death toll from Tel Aviv attack rises to 7: hospital
- Mengesha and Ketema complete Ethiopian double at Berlin Marathon
- Police arrest three murder suspects
Abont US
Follow our WhatasApp account to stay updated with the latest exciting content