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Express Tribune
6 hours ago
- Business
- Express Tribune
Gold rises Rs1,400 as global market recovers
Listen to article Gold prices in Pakistan rose on Wednesday, tracking gains in the international market as investors sought bargains following a dip in the previous session. The local uptick comes amid global anticipation surrounding the release of minutes from the US Federal Reserve's latest policy meeting. According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola climbed by Rs1,400 to reach Rs349,300. Similarly, the price of 10 grams of gold increased by Rs1,200, settling at Rs299,468. This rebound followed a sharp drop on Tuesday when gold fell by Rs3,600 per tola to close at Rs347,900. Commenting on the trend, Adnan Agar, Director at Interactive Commodities, noted that international gold prices remained volatile but within a defined trading range. "The market touched a high of $3,325 and a low of $3,290 today, currently trading around $3,300," he said. "The $3,270 level is proving to be a strong support, from where the market has bounced back. On the upside, $3,350 is a key resistance." He explained that gold has been trading in a range-bound pattern, citing historical movements from $3,120 to $3,600. "Profit-taking is likely when prices approach upper resistance levels. On the downside, unresolved tariff issues and geopolitical tensions, particularly the ongoing Russia-Ukraine conflict, continue to weigh on sentiment." Agar added that unless these global hurdles are permanently resolved, gold is expected to remain within the $3,270 to $3,360 range. "A breakout beyond either end could push prices towards $3,200 or $3,420-3,500, respectively," he concluded. Globally, gold prices rose on Wednesday as traders sought bargains following the previous session's declines, while the market remains focused on minutes from the Federal Reserve's latest policy meeting due later in the day, according to Reuters. Spot gold gained 0.4% to $3,312.05 an ounce by 1255 GMT, after hitting a session low of $3,285.19 on Tuesday. US gold futures rose 0.3% to $3,310.60. "The gold market has been kind of choppy recently, just reacting to fresh daily fundamental news events with no real trending price action. In the near term, the market top is in place," Jim Wyckoff, Senior Analyst at Kitco Metals, said. "The minutes can be market movers. Market watchers are going to be looking at new comments on inflation this afternoon." Minutes of the Fed's May policy meeting are due at 1800 GMT. The meeting took place amid heightened concern over global trade tensions, following President Trump's early April announcement of major new import tariffs. Some of the most aggressive tariffs were eased or delayed a week later. Gold, which performs well in a low-interest rate environment and serves as a safe haven during times of uncertainty, has gained 26% so far this year and hit a record high in April.
Express Tribune
13 hours ago
- Business
- Express Tribune
Gold prices surge in Pakistan after two-day slump
Listen to article After two consecutive days of decline, gold prices in Pakistan recorded an upward trend on Wednesday, tracking gains in international markets. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose by Rs1,400, reaching Rs349,300 in the local market. Similarly, the price of 10 grams of gold increased by Rs1,200, settling at Rs299,468. On Tuesday, gold prices had dropped sharply, with the per tola rate falling by Rs3,600 to Rs347,900, reflecting pressure from both local and global trends at the time. Silver prices also saw an uptick on Wednesday. The per tola rate of silver increased by Rs32, reaching Rs3,480. Market analysts suggest that fluctuations in precious metals are closely tied to global economic signals and investor sentiment, with current gains fueled by renewed demand and international market strength.
Time of India
2 days ago
- Climate
- Time of India
Early rain destroys onion crop across Maharashtra, farmers grapple with losses
Pune: Pre-monsoon showers in the last couple of weeks have majorly hit the last of the summer onion crop in Maharashtra. Heavy rain has damaged onion crops over 3,000 hectares in Nashik district between May 5 and 21, according to a primary assessment by the state agriculture department. Tired of too many ads? go ad free now Onion farmers said that if the pre-monsoon showers had arrived 15 days later, it would have saved hundreds of quintals of onions. Gokulsingh Shisode, an onion farmer from Malegaon, lost 11 acres of onion to rain and is running huge losses. "It was raining so heavily that the field were ruined, and all my onion crop damaged. Eleven acres of plantation can yield up to 50-60 trolleys of onions (40 quintals per trolley)," said Shisode, who now hopes for some compensation from govt. Another farmer, Shriram Darade from Indapur, said they harvested onions from their 4-acre plantation and piled them up underneath trees. "Owing to heavy rain, we were not able to save these harvested onions, and they got spoiled. This kind of rain is unheard of in May," he lamented. Bharat Dighole, president of the Maharashtra Onion Growers Association, said onion-producing regions in the state like Konkan, Nashik, Pune, Kolhapur, Chhatrapati Sambhajinagar, Jalgaon, Amravati and Nagpur have all witnessed heavy unseasonal rain since May 6. "Many farmers who harvested onions kept them in temporary locations for storage. These have also been damaged by rain. The exact damage is yet to be ascertained, but at least 5-10% of onions this season have been damaged," he said. Dighole expects that the next onion planting season may begin in June itself owing to weather conditions. The price of onions in wholesale and retail markets is low at present, and farmers fear that they will not be able to make up for their monsoon losses owing to low prices. Tired of too many ads? go ad free now "Due to the rain, purchase numbers for onions have gone down significantly, and that has led to a lower rate in the market. In the wholesale market, prices are trending at Rs11-15 per kg. Some farmers with holding capacity are stocking produce in hope of higher prices in the next few months," said Prashant Gote, head of the fruits and vegetables section at APMC Pune. Nivrutti Nyaharkar, an onion farmer from Yeola, told TOI, "The cost for onion production is around Rs1,800 per quintal, and farmers incur losses if they get the price below that." The average wholesale onion prices dropped by 60% in the last three-and-a-half months, from Rs3,100 per quintal on Feb 14 to Rs1,200 per quintal so far, due to a rise in supply as compared to demand. On April 1 this year, Centre removed 20% duty on onion export — nevertheless, average wholesale onion prices were recorded in the price range of Rs1,050 to Rs1,200 per quintal since then. At present, the average wholesale onion price at the country's largest wholesale onion market, Lasalgaon APMC, is recorded at Rs1,200 per quintal, while the minimum and maximum wholesale onion prices are at Rs600 and Rs1,612 per quintal, respectively.
Emirates Woman
2 days ago
- Business
- Emirates Woman
Starting a business? Here's the best co-working spaces in Dubai
Creative minds always need room to breathe. Especially if you're launching a new business, co-working spaces are the best place for this. While it's easy to stay at home and work out of your bed, true creativity is put to the test in a co-working space where several entrepreneurs also work from. From community building meet-ups to networking opportunities, these spaces provide a platform to keep the productivity high at all times. In an environment bustling with energy, it's a sign to enroll in one of Dubai's most sought-after co-working spaces. Why are co-working spaces important? Overall, co-working spaces are important because they offer flexible, cost-effective alternatives to traditional offices, making them ideal for freelancers, startups, and remote workers. They foster a sense of community and collaboration by bringing together professionals from diverse backgrounds, encouraging networking and innovation. These spaces enhance productivity by providing a structured, professional environment equipped with essential amenities like high-speed internet, meeting rooms, and shared resources. Located in accessible urban areas, many co-working spaces also offer global access, benefiting digital nomads and traveling professionals. Additionally, they support work-life balance and mental well-being by reducing isolation and creating a clear separation between work and home life. So, scroll through our guide of co-working spaces to book in Dubai. Nasab View this post on Instagram A post shared by Nasab Dubai (@nasabdubai) This space is a private haven of work, wellness & leisure spaces located in KOA Canvas, curating a community of entrepreneurs, thought-leaders and gamechangers. Location: KOA Canvas, Al Wasl Website: The Bureau This female-focused coworking space is a productive sanctuary in the center of Dubai. Designed by women, the space has everything from private offices for short-term rentals to dedicated desks with natural light for a clean environment to working in. With cosy phone booths for private calls and an intimate space for private events, this haven ensures a smooth working day without any hindrances. Memberships start at Dhs120 per day and the 3-month membership is priced at Dhs3,200 with upfront payment. Location: Gold & Diamond Park, Building 6. Website: Nomad Day Bar At 25 Hours, this space is the ideal spot for co-working and casual meetings. This fully knitted co-working space features an open pantry, coffee bar and plenty of modern tech with breathtaking views. With coffee by Nightjar, you're sure to be productive all-day long. Location: 25 Hours Website: Techarc As a hub for creatives, this co-working space is designed for the community to meet, work and learn. Techarc Space was established by entrepreneurs committed to redefine coworking through affordable solutions tailored to your needs. Location: Alserkal Avenue, Warehouse 25 Website: Nook Co-working Space View this post on Instagram A post shared by nook Coworking (@nookdxb) Designed to promote a healthy environment for sports, fitness and wellness, this co-working space is an exciting place for everyone to begin their entrepreneurial journey. From flexible spaces to rent with meeting rooms to dedicated office spaces for a reasonable price every month, this venue has all your needs under one roof. It also comes complete with an onsite gym and studio space with wellness instructors who can train individuals and small groups. Located in One JLT on the 2nd floor, it's open from Sunday to Thursday 8am to 8pm and Friday and Saturday 9am to 6pm. Location: Jumeirah Lake Towers Website: AstroLabs In need of a venue to expand your business? Known for fostering a collaborative coworking community, AstroLabs offers a range of bespoke training programs, incubators and a private facility to get your head down and work. With practitioner-led courses, entrepreneurs are sure to have a boost in their journey, making the entire work environment and enrolling a seamless process. Located in Parkside Retail level, Cluster R, it's open daily for 24 hours. Location: Jumeirah Lake Towers Website: – For more on luxury lifestyle, news, fashion and beauty follow Emirates Woman on Facebook and Instagram Images: Instagram Feature Image: Instagram @jesshunt
Borneo Post
3 days ago
- Business
- Borneo Post
As June 1 submission deadline draws closer, 55 pct students eligible for Sarawak's Special Financial Assistance yet to apply for aid
Photo for illustration purposes only. — Photo by Armin Rimoldi/Pexels KUCHING (May 26): Sarawak's Special Financial Assistance (BKK) initiative has received just over 27,000 applications, said Dato Sri Roland Sagah Wee Inn. The Education, Innovation and Talent Development Minister said based on the ministry's estimation, as of May 24, there are 60,220 students eligible for the RM1,200 pocket money. 'As of May 24, 2025, a total of 27,033 students have submitted their applications. 'I would like to give notice to all eligible students that the closing date for the application is on June 1, 2025,' he said during the State Legislative Assembly (DUN) Sitting here today. In delivering his ministerial winding-up speech, Sagah said every Sarawakian studying at tertiary institutions across the country are entitled to the annual pocket money, regardless of household income. 'This initiative is not just about easing the burden of daily expenses. It enables our students to focus on their studies, to dream bigger, and to move forward without the weight of financial worries,' he said pointing out the initiative is also an investment in social mobility, economic prosperity, and a more equitable society. On the free laptop and book voucher initiatives, Sagah said the state government has distributed 9,581 laptops and 3,015 book vouchers to eligible students in all tertiary institutions in Malaysia. 'This year, we expect more students will benefit this scheme. In collaboration with Yayasan Sarawak, our implementing agency, we will be enhancing our promotional efforts and engagement activities to ensure that more members of the public are aware of the educational assistance available to students.' He said the assistance is open to all Sarawakians, studying full-time at any public or private higher learning institution recognised by the Ministry of Higher Education across the country. 'It is meant for students from families with a per capita income of RM1,500 or below per month. 'For the free laptop, applicants must also be in their first year of study, to help them start their studies with the right tools,' he said, adding that all applicants must be registered in the My-Yayasan system.
