gold prices rise
|

Gold prices rise for third straight session, hit two-month high

ByJustpaste.in

Gold prices extended their upward momentum on Tuesday, climbing for a third consecutive session as investors turned their attention to key US inflation figures that could influence expectations for the Federal Reserve’s next interest-rate decision.

The precious metal continued to attract buying interest amid renewed safe-haven demand and growing expectations that US monetary policy could become less restrictive if economic data point to a cooling economy.

Spot gold gained around 1% to reach $4,432.74 per ounce by 0217 GMT, its highest level since June 5. US gold futures also advanced, rising 1.7% to $4,492.60 per ounce.

Market analysts said several factors were contributing to the latest rally, including investors who had stayed on the sidelines during gold’s earlier decline and are now returning to the market as prices recover.

IG market analyst Tony Sycamore said the move was partly being driven by a fear of missing out among investors who had failed to take advantage of the previous decline toward the $4,000 level. He also pointed to short-covering by speculative traders and renewed demand for gold as a safe-haven asset.

Sycamore added that gold could have further room to advance over the medium term, potentially opening the way for a stronger recovery toward the $5,000-per-ounce mark.

US inflation data in focus

Investors are now closely watching the latest US inflation figures, with the consumer price index (CPI) scheduled for release on Wednesday and producer price data due on Thursday.

The reports are expected to provide important clues about the future direction of US interest rates. Markets have already reduced expectations for further monetary tightening following weaker-than-expected US employment data released last week.

The latest jobs figures raised concerns about the strength of the US economy and encouraged traders to reassess expectations for the Federal Reserve’s policy path.

At its July meeting, the Federal Reserve left interest rates unchanged, although three policymakers dissented and supported an increase. The split among officials highlighted uncertainty over the appropriate direction of monetary policy as the central bank continues to balance inflation risks against signs of economic weakness.

Gold generally benefits from a lower-interest-rate environment because the metal does not provide interest or other regular income. When bond yields and interest rates decline, the opportunity cost of holding non-yielding bullion becomes less significant, potentially increasing its appeal among investors.

Fawad Razaqzada said that if incoming economic data continue to indicate a slowing US economy without a significant acceleration in inflation, financial markets could further reduce expectations for tighter monetary policy.

Such a development could weigh on the US dollar while creating a more supportive environment for gold, he said.

Geopolitical tensions add to safe-haven demand

Geopolitical developments also remained an important factor in precious-metals markets.

US President Donald Trump responded to Iran’s conditions for a potential peace agreement with demands of his own, including calls for compensation over people killed during wars, attacks and protests.

The exchange has added uncertainty to diplomatic efforts aimed at resolving the conflict and reopening the Strait of Hormuz, a strategically important waterway for global energy shipments.

Any prolonged disruption or renewed tensions around the Strait could increase concerns over global energy supplies and economic stability. Such uncertainty often encourages investors to seek traditional safe-haven assets, including gold.

Analysts are therefore watching both economic indicators and geopolitical developments for signs that could influence bullion prices in the coming sessions.

Other precious metals also gain

Gold was not the only precious metal to advance during Tuesday’s trading.

Spot silver increased by 0.9% to $66.30 per ounce, maintaining its recent strength. Platinum also moved higher, gaining 0.7% to $1,765.26 per ounce.

Meanwhile, palladium rose 0.8% to $1,394.00 per ounce.

With US inflation figures due later in the week, traders are expected to remain cautious while assessing whether the latest economic data will reinforce expectations for a shift toward easier monetary policy.

For gold, a combination of softer US economic indicators, a potentially weaker dollar, lower interest-rate expectations and continued geopolitical uncertainty could provide additional support to prices in the near term.

Similar Posts

  • | |

    CJP unveils nationwide women facilitation centres

    ByJustpaste.in

    Chief Justice of Pakistan Justice Yahya Afridi has announced that Women Facilitation Centres will be established in courts across the country to make the justice system more accessible, supportive and efficient for women. The announcement was made during a meeting with representatives of the Sindh High Court Bar Association and the Karachi Bar Association at the Supreme Court’s Karachi Registry. The meeting focused on improving facilities for women litigants and addressing challenges faced by female lawyers in the legal profession. During the discussion, the chief justice said the proposed centres are part of broader judicial reforms aimed at creating a more welcoming and convenient environment for women seeking legal assistance. He stressed that women should have easier access to courts and receive the support needed to pursue their cases without unnecessary difficulties. Justice Yahya Afridi said the Women Facilitation Centres would provide a wide range of services under one roof. In addition to offering legal guidance, the centres would include mediation and alternative dispute resolution (ADR) facilities to help settle suitable cases quickly and reduce the burden on courts. He added that the centres would also provide psychological counselling and connect women with relevant government departments and support organisations whenever required. The initiative is intended to ensure that women receive both legal and social assistance throughout the judicial process. The chief justice informed the delegation that the judiciary has already selected the three best designs for the proposed centres. These model designs will be shared with all high courts to ensure a uniform system is introduced across Pakistan. The representatives of women lawyers welcomed the initiative and thanked the chief justice for giving priority to the needs of female litigants. They also highlighted several issues affecting women in the legal profession, including workplace challenges and barriers to equal opportunities within the justice system. Justice Afridi assured the delegation that the concerns raised during the meeting would be addressed on a priority basis. He said the judiciary would work closely with the relevant high courts and other institutions to develop practical solutions and improve facilities for women across the country’s judicial system.

  • |

    Trial commences for Malaysian teenager accused of fatal school stabbing

    ByJustpaste.in

    A 14-year-old boy has gone on trial in Malaysia for the alleged murder of his 16-year-old schoolmate, Yap Shing Xuen, whose body was discovered with multiple knife wounds in a secondary school toilet near Kuala Lumpur. The accused, who pleaded not guilty, faces up to 40 years in prison and potential caning if convicted, though capital punishment is barred due to his status as a minor under Malaysian law. Police confirmed the recovery of a written note at the scene and cited potential online influence, sparking nationwide debate concerning the impact of social media algorithms, incel subcultures, and youth exposure to radicalising content. In response to growing public concern surrounding youth safety, Malaysian authorities have instituted a policy prohibiting children under 16 from maintaining accounts on major social media platforms.

  • | |

    Allah Rakha’s family urges Sohail Ahmed to respe…

    ByJustpaste.in

    Lahore: The family of late Pakistani comedian Allah Rakha, popularly known as Allah Rakha Pepsi, has appealed to veteran actor and comedian Sohail Ahmed to refrain from making personal remarks about the late entertainer, saying such comments have caused them pain. In a recent interview, Allah Rakha’s daughters expressed disappointment over Sohail Ahmed’s public statements, urging him to respect their father’s memory. One of his daughters recalled that her father had introduced Sohail Ahmed to the family as someone they should regard like an uncle, making the recent remarks especially hurtful. She requested that their family’s dignity be respected and asked that her father’s name not be dragged into public discussions. She added that Allah Rakha had faced many hardships during his lifetime and deserved to rest in peace after his passing. The response came after Sohail Ahmed praised Allah Rakha as a talented performer but also spoke publicly about the circumstances surrounding his death, claiming the comedian suffered a heart attack while filming and was under emotional stress due to concerns about his daughter’s divorce. Allah Rakha Pepsi passed away last month after suffering a heart attack during a shooting session, leaving behind a legacy as one of Pakistan’s beloved comedians.

  • | |

    Anayah Shahid fought hard for Zanjeerain role

    ByJustpaste.in

    Pakistani actress and social media influencer Anayah Shahid has revealed the interesting story behind securing the role of Shireen in the popular drama serial Zanjeerain. Anayah, who initially rose to fame through social media, has been receiving considerable attention for her performance in the drama. Her portrayal of Shireen has particularly impressed viewers, with the character becoming one of the most discussed figures in the ongoing storyline. Speaking on the television show Mazaq Raat, Anayah revealed that getting the role was not straightforward. She explained that she had originally auditioned for a different character in the drama. According to the actress, the production team initially told her that managing the required shooting schedule would be difficult for her. Instead of giving up, Anayah continued to pursue the opportunity and requested another chance to audition. Her persistence eventually paid off. She gave an audition for the role of Shireen and managed to convince the makers that she was suitable for the character. The role has since become an important part of the drama. Shireen’s actions and interactions with other characters have kept audiences engaged, while Anayah’s performance has helped the character stand out despite the show’s large ensemble cast. Anayah also spoke warmly about working with Sajal Aly, who plays Rabiya in the drama. She revealed that she already admired Sajal’s work before joining the project and was excited to share the screen with her. The actress described Sajal as supportive and said she treated her like an elder sister on set. According to Anayah, Sajal helped her understand different aspects of filming and offered guidance whenever she faced difficulties while performing scenes. Anayah’s comments have given fans a glimpse into the behind-the-scenes experience of Zanjeerain. Her journey from social media content creator to actress, followed by securing a prominent role through persistence, has also become an encouraging part of her career story.

  • |

    Karachi braces for cloudy, humid weather

    ByJustpaste.in

    Karachi is expected to witness cloudy and humid weather over the next 24 hours, with light drizzle likely in some areas during the morning and evening, according to the latest forecast issued by the Pakistan Meteorological Department (PMD) on Monday. The Met Office said daytime temperatures in the port city are expected to remain between 33°C and 35°C, while the minimum temperature recorded early Monday was 28°C. Humidity levels remained high at 78 percent, making weather conditions feel warmer than the actual temperature. Sea breezes continued to blow across the city at a speed of around 15 kilometres per hour, providing some relief from the humid conditions. Weather officials said intermittent drizzle could occur in isolated parts of Karachi, particularly during the early morning and after sunset, although no widespread rainfall is expected. Meanwhile, the PMD has projected that August 2026 is likely to be drier than usual across much of Pakistan, with rainfall expected to remain below the long-term average in most regions. The monthly climate outlook, released on July 31, was prepared using forecasts generated by 10 internationally recognised seasonal climate prediction models, providing a comprehensive assessment of expected weather trends during the month. According to the department, large-scale climate patterns are expected to play a significant role in shaping weather conditions across the country. The El Niño-Southern Oscillation (ENSO) is currently in a positive phase and is likely to continue through August, while the Indian Ocean Dipole (IOD) has also shifted into a positive phase. Meteorologists say the combination of these climate systems is expected to suppress rainfall in many parts of Pakistan. As a result, below-average rainfall is forecast for most regions of the country. The greatest rainfall deficits are expected over northeastern and central Punjab, extending into adjoining parts of Khyber Pakhtunkhwa and Azad Jammu and Kashmir, as well as southeastern Sindh. In contrast, parts of Gilgit-Baltistan are expected to receive rainfall closer to normal levels during the month, making it one of the few regions where precipitation is not forecast to decline significantly. The PMD has also warned that temperatures across Pakistan are likely to remain above seasonal averages throughout August. The most pronounced rise in temperatures is expected over eastern Gilgit-Baltistan, central and northeastern Punjab, adjoining areas of Khyber Pakhtunkhwa, and northern Balochistan.

  • |

    Pakistan, Iran agree to boost bilateral trade to $10 billion

    ByJustpaste.in

    ISLAMABAD: Pakistan and Iran have reaffirmed their commitment to significantly strengthen economic cooperation by increasing bilateral trade to $10 billion and accelerating efforts to finalize a long-awaited Free Trade Agreement (FTA). The understanding was reached during the 10th meeting of the Pakistan-Iran Joint Trade Committee, held in Islamabad on Tuesday. The session was jointly chaired by Federal Minister for Commerce Jam Kamal Khan and Iranian Minister for Industry, Mine and Trade Dr. Mohammad Atabak, with senior officials from both countries participating in discussions aimed at expanding trade and investment ties. During the meeting, both sides reviewed the current state of bilateral trade and explored practical measures to unlock its full potential. The two countries agreed that stronger economic integration, improved connectivity, and enhanced cross-border cooperation are essential for achieving the ambitious trade target of $10 billion. Speaking on the occasion, Commerce Minister Jam Kamal said Pakistan and Iran enjoy longstanding historical, cultural, and religious ties, but stressed that these relations should now be translated into a robust economic partnership. He emphasized that expanding trade and investment would bring mutual economic benefits and contribute to regional prosperity. The minister underscored the importance of completing the Pakistan-Iran Free Trade Agreement at the earliest opportunity, describing it as a key step toward facilitating commerce between the neighboring countries. He also called for the removal of bottlenecks affecting border logistics, customs procedures, and cargo movement to ensure smoother and faster trade flows. Jam Kamal noted that bilateral trade could be further enhanced through the development of joint border markets, greater use of electronic data interchange systems, and closer coordination between relevant government agencies. He said modernizing trade infrastructure and simplifying customs procedures would help businesses on both sides benefit from increased commercial activity. The Joint Trade Committee also agreed to formulate a practical roadmap aimed at strengthening economic cooperation across multiple sectors. The roadmap will focus on trade facilitation, infrastructure development, logistics, and investment opportunities while encouraging closer collaboration between the public and private sectors. Iranian Minister Dr. Mohammad Atabak described Pakistan as one of Iran’s key long-term strategic trade partners and expressed confidence that bilateral economic relations could expand considerably in the coming years. He highlighted the importance of increasing regional trade and logistics cooperation, particularly by utilizing Pakistan’s Karachi and Gwadar ports to improve connectivity and facilitate the movement of goods. Dr. Atabak also voiced optimism about the early conclusion of the Pakistan-Iran Free Trade Agreement, saying it would create new opportunities for businesses in both countries. He added that cooperation in electricity trade, transport networks, and regional connectivity projects could open new avenues for economic growth and strengthen commercial links across the region.

Leave a Reply

Your email address will not be published. Required fields are marked *