Tag: Volatility
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Fourth consecutive decline: Gold price drops by Rs1,800 to Rs218,700 per tola
In line with the reduction in international rates, the per tola gold price in Pakistan experienced a significant decline of Rs1,800 on Wednesday. This marks the fourth consecutive day of falling prices for the precious metal. The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) released data indicating that the price of 24-carat gold decreased by…
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Food price hikes pushes weekly inflation to 3.38 per cent
According to the Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator (SPI) for the week ended June 16, 2022, surged by 3.38 per cent due to increases in the prices of food and non-food items. The year-over-year (YoY) trend indicates a 27.82 per cent rise, owing primarily to an increase in rates of following:…
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After five days of losses, British stocks holding firm
A day after economic slowdown fears dragged the major British stocks to their sixth straight session of losses, UK equities stabilised on Tuesday, with some positive momentum from financial sectors and some excellent earnings announcements. By 0712 GMT, the FTSE 100 had up 0.6 per cent, with shares in British bank HSBC up 2.6 per…
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Microsoft reduces profit estimation due to market volatility
Microsoft slashed its fourth-quarter profitability and earnings projections on June 2, becoming the latest U.S. corporation to notify of the impact of a stronger dollar. An aggressive Federal Reserve and increased geopolitical tensions have driven the dollar up 14 per cent against a basket of currencies in the last year, forcing companies like Coca-Cola Co…
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Pakistani rupee plunges by Rs1.05 against the US dollar
In today’s interbank session, the Pakistani rupee (PKR) fell by Rs1.05 versus the US dollar (USD), concluding at Rs186.97 per US Dollar, compared to Rs185.92 per USD on April 20. The rupee had a tumultuous market session, with an intraday high of Rs187.10 and a lowest of Rs186.25. This depreciation of PKR is attributed to the…