Latest news with #058
Business Recorder
3 days ago
- Business
- Business Recorder
Gold prices increase
KARACHI: Gold prices rebounded with mammoth gains on Monday, mirroring global surge, mounting close to $3,350 per ounce, traders said. Galloping to $3,347 per ounce, world bullion market posted a $59 increase in a single trading session, giving rise to local gold prices by Rs5,900 per tola and Rs5,058 per 10 grams. Subsequently, gold prices settled for Rs353,100 per tola and Rs302,726 per 10 grams, according to All Pakistan Sarafa Gems and Jewelers Association. Copyright Business Recorder, 2025
Express Tribune
3 days ago
- Business
- Express Tribune
Gold surges as uncertainty grows
Gold prices in Pakistan surged on Monday, tracking a sharp rally in the international market where the precious metal rose over 2%its highest level in more than three weeks. The spike was driven by a weakening US dollar and growing investor appetite for safe-haven assets amid escalating geopolitical tensions and sustained global economic uncertainty. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold in the local market rose by Rs5,900 per tola, reaching Rs353,100. The price for 10 grams of gold also increased significantly, climbing by Rs5,058 to settle at Rs302,726. This rebound reversed the weekend's losses, when gold prices had declined by Rs1,400 per tola to close at Rs347,200 on Saturday. Commenting on the development, Adnan Agar, Director at Interactive Commodities, said the international gold market is showing strong upward momentum. He noted that gold rose nearly $70 on the day, hitting a low of $3,301 and peaking at $3,377, where it was holding steady. "The rally is largely driven by geopolitical developments, particularly Ukraine's recent large-scale attack on Russia, which has boosted safe-haven demand," he said. Internationally, gold gained more than 2% on Monday to its highest level in over three weeks, as a weaker dollar and a combination of geopolitical risks and economic uncertainty fuelled safe-haven demand, according to Reuters. Spot gold was up 2.7% at $3,377.29 an ounce as of 1419 GMT, after reaching its highest since May 8 earlier in the session. US gold futures were up 2.6% at $3,402.70. Agar added that if gold manages to close above the $3,380 mark, it could test higher resistance levels at $3,400, $3,420, and even $3,440. "A close above these thresholds may pave the way toward $3,500, although it's still early to confirm such a move," he said. For now, the closing outlook remains bullish, with key levels in sight. Meanwhile, the Pakistani rupee posted a slight appreciation against the US dollar on Monday, strengthening by 0.02% in the interbank market. By the end of trading, the local currency settled at Rs281.97 per US dollar, reflecting a modest gain of five paisas from the previous session. In contrast, the rupee had weakened slightly during the prior week, losing four paisas or 0.01% against the dollar. It closed at Rs282.02 last Friday, compared to Rs282.06 at the end of the week before, according to data from the State Bank of Pakistan (SBP). According to Ismail Iqbal Securities, the rupee has depreciated by 1.23% calendar year-to-date and 1.30% fiscal year-to-date.
Express Tribune
4 days ago
- Business
- Express Tribune
Gold prices rise locally, internationally amid escalating Russia-Ukraine conflict
Gold prices saw a significant rise on Monday, both locally and internationally, driven by growing tensions between Russia and Ukraine. According to reports, the demand for gold surged again as the conflict between Russia and Ukraine escalated, resulting in a $59 increase in the international bullion market. The price of gold per ounce reached $3,347, marking a notable rise. Locally, the increase in global gold prices led to a sharp jump in the cost of gold in Pakistan's jewellery markets on Monday. Following the surge, the price of 24-carat gold per tola increased by Rs5,900, reaching Rs353,100. Similarly, the price of gold per 10 grams rose by Rs5,058, bringing it to Rs302,726. In contrast, the price of silver remained unchanged, with the cost of one tola silver holding steady at Rs3,356 and 10 grams of silver priced at Rs2,962.
Business Recorder
17-05-2025
- Business
- Business Recorder
Gold price per tola gains Rs2,400 in Pakistan
Gold prices in Pakistan continued to grow in line with their increase in the international market. In the local market on Saturday, gold price per tola reached Rs338,500 after it accumulated Rs2,400 during the day. As per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs290,209, after it increased by Rs2,058. On Friday, gold price per tola reached Rs336,100 after it gained Rs900 during the day. The international rate of gold also jumped on Saturday. The rate was at $3,177 per ounce (with a premium of $20), a gain of $24, as per APGJSA. Meanwhile, silver price per tola also increased by Rs33 to settle at Rs3,410.
Malay Mail
30-04-2025
- Entertainment
- Malay Mail
Class in session: Tourists live out their anime dreams in real Japanese school
KIMITSU (Japan), May 1 — With his black uniform jacket slung rakishly over his shoulders and his feet propped up on a Japanese school desk as he held court with his crew, Jason Wu was taking great satisfaction in being a juvenile delinquent. The 29-year-old New Yorker was participating in a one-day mock school experience at 'Kimino High School' for foreign tourists in Japan. It's designed to appeal to anime fans like Wu and his wife as well as those simply curious about cultural differences in education. At a repurposed school about 60 km (37 miles) southeast of Tokyo, participants pay about 35,000 yen (RM1,058)) to dress in classic Japanese school uniforms and attend calligraphy and other lessons. In gym class, they play traditional Japanese sports day group competitions like tug-of-war or throwing bean bags high into a net basket. The repurposed school about 60km southeast of Tokyo. — Reuters pic Like Japanese school children, they also practice earthquake drills, serve lunch and clean the classroom at the end of the day. 'This is like the only experience that you can do to have some semblance of the Japanese high school life,' said Wu, a software engineer. Amid a tourism boom fuelled by an extremely weak yen, repeat visitors to Japan like Wu, who is on his 10th trip here, are looking for more immersive activities. Tourists from abroad take part in a Japanese high school experience in Kimitsu. — Reuters pic The classroom experience, organised by event planning company Undokai, also dovetails with a government plan to coax more visitors outside of destinations like Tokyo and Kyoto suffering from 'overtourism' and into rural areas. Many manga or anime such as supernatural drama 'Jujutsu Kaisen' and romantic comedy 'Ouran High School Host Club', both of which have aired on Netflix, are set in high schools and for anime fans in particular, getting to experience high school is a peak Japanese experience. 'Lots of animes will feature school life being this ideal part of your childhood,' said Wu's wife, Parina Kaewkrajang, 27. 'It's a type of nostalgia that we wanted to experience for ourselves.' Formerly known as Kameyama Middle School, the event's name Kimino is a play on words for 'your' high school and the name of the town Kimitsu, known for strawberries and hot springs. Tourists from abroad put their desks together and have a school lunch. — Reuters pic The school closed in 2020 due to a lack of students — an increasingly common occurrence as Japan rapidly ages and the number of children declines. Nearly 6,500 schools across the country have closed in the past two decades, according to government data. 'If this becomes an example of how to utilise closed schools, or attracts attention as a new way to revitalise the local area, I would definitely like to expand it to other places,' said Undokai founder Takaaki Yoneji. — Reuters
