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Gold prices dip by $8 internationally, Rs1,200 locally
In a significant development in the precious metals market, the per-tola price of 24 karat gold experienced a notable decline, dropping by Rs1,200 on Saturday.
According to the All Sindh Sarafa Jewellers Association, the precious metal was sold at Rs214,300, marking a decrease from its previous rate of Rs215,500 on the last trading day.
Similarly, the price of 10 grammes of 24 karat gold exhibited a downward trend, declining by Rs1,028 to reach Rs183,728, as opposed to the earlier rate of Rs184,756.
Meanwhile, the prices of 10 grammes of 22 karat gold also saw a decrease, settling at Rs168,416 from Rs169,360, as reported by the Association.
Notably, the per-tola and ten-gramme silver prices remained unchanged at Rs2,600 and Rs2,229.08, respectively, indicating stability in the silver market.
The dip in local gold prices is mirrored on the international stage, as the global market reported a decrease of $8 in the price of gold.
The international rate now stands at $2,045, down from the previous figure of $2,053, as outlined by the Association.
This shift in prices is likely to have implications for investors, jewellers, and consumers alike, prompting a reassessment of investment strategies and purchase decisions in the coming days.
Analysts are closely monitoring these fluctuations to gauge the market’s response and anticipate future trends in the precious metals sector.
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Six-year-old Gaza girl found dead, family says, blaming Israel
Gaza Strip (Palestinian Territories) (AFP) – A six-year-old Palestinian girl who went missing after the family’s car came under fire in war-ravaged Gaza was found dead Saturday, the health ministry and her relatives said, accusing Israel of killing her.
The last time Hind Rajab had been seen was about two weeks ago when she was surrounded by dead relatives after becoming trapped in the vehicle as they tried to flee Gaza City as Israeli forces advanced.
“Hind and everyone else in the car is martyred,” the girl’s grandfather, Baha Hamada told AFP.
A number of family members made the grim discovery when they went to Gaza City’s Tel al-Hawa area looking for the car near a petrol station where it had last been spotted, he said.
“They were able to reach the area because Israeli forces withdrew early at dawn today,” Hamada added.
The health ministry in the Gaza Strip confirmed Hind’s death.
“She was killed by (Israeli) occupation forces with all those who were with her in the car outside the petrol station in Tel al-Hawa,” the ministry said in a statement.
Earlier this week, family members had said the group found their way in the path of Israeli tanks and were fired on as they tried to flee.
Contacted by AFP, the Israeli military did not comment on the incident.
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Sajal Aly, Malala call for ‘respect’ for voters’ choice as election results come in
Now that election mania is subsiding, another mania has taken over. People are closely following who will form the government. Actress Sajal Aly posted on Instagram about how things have been changing a lot recently in the political scene. “There have been many changes since the night till now”. In another story, she shared a song called “Laga Reh” by Shehzad Roy, which talks about Pakistan’s situation, its politicians and its people. Sajal praised Shehzad for being right about it all along and said, “Your concern was accurate. Sad,” tagging the singer.
Moreover, the actor found something positive in the situation. She wrote in Urdu, “However, the good news is that today, the entire nation is concerned about the country. Keep at it!”
But Sajal wasn’t the only one sharing her thoughts. Activist and Nobel Prize winner Malala Yousafzai also spoke up about the elections. She wrote, “Pakistan needs elections that are fair and honest. This means counting votes openly and respecting the results.”
Pakistan needs free and fair elections, which includes transparency in counting votes and respect for the results. I believe today, as I always have, that we must accept the voters’ decision with grace. I hope our elected officials, whether in government or opposition parties,…
— Malala Yousafzai (@Malala) February 9, 2024
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Party number game: what’s going on right now
PTI will form a government in centre, says Barrister Gohar Khan
Pakistan Tehreek-e-Insaf (PTI) acting chairman, Barrister Gohar Khan, has said that PTI will form the government in the centre. He also said that PTI-backed candidates are leading in the 2024 election, adding that according to Form 45 received by the party, PTI-supported candidates have won 170 National Assembly seats so far.
He rejected the possibility of accepting PML-N head Nawaz Sharif’s offer to all parties to get together to form a government.
MQM wants Shehbaz to come to Karachi to ‘manao’ them
Muttahida Quami Movement-Pakistan (MQM-P) leader Khalid Maqbool Siddique has asked former prime minister Shehbaz Sharif to come to Karachi to discuss the post-election situation and the possibility of forming a coalition.
According to the results of the 2024 elections, MQM-P has won 17 National Assembly (NA) seats, making it an important stakeholder in forming a government.Not in touch with the PTI Independents, waiting for all votes to be counted: Bilawal BhuttoPakistan Peoples Party (PPP) Chairman Bilawal avoided questions about forming an alliance with the PMLN or PTI-backed Independents, hinting that it isn’t going to be an easy process to make a PDM.
The former Foreign Minister avoided questions about forming an alliance with the PMLN or PTI-backed Independents, hinting that it isn’t going to be an easy process to make a PDM version 2.0.
Bilawal Bhutto said that the PPP is not in touch with the PTI-backed candidates but is waiting for all election results before it takes any decision, adding that PPP is not in the position right now to announce anything.
The PPP chairman said that it is also important to see what independent candidates decide before making any major decision.
PTI has not decided who will be its candidate for Prime Minister, although it should be Khan: Waleed IqbalPakistan Tehreek-e-Insaf (PTI) leader Waleed Iqbal said, while talking to Geo News that PTI has not yet finalised its candidate for Prime Minister. He also said that, while he believes the candidate should be Imran Khan, the decision will be taken after consulting with the former prime minister.
However, Khan cannot be a candidate for Prime Minister since he has been disqualified, did not run for election, and is currently serving a jail sentence in three cases.
MQM heading to Lahore to meet NawazMuttahida Qaumi Movement-Pakistan’s (MQM-P) delegation is heading to Lahore on the invitation of former Prime Minister Nawaz Sharif for a post-election meeting.
The delegation includes Governor Sindh Kamran Khan Tessori, Khalid Maqbool Siddiqui, and Farooq Sattar.
Earlier, Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari and Asif Ali Zardari also met Shehbaz Sharif in Lahore.
On the other hand, Pakistan Muslim League-Nawaz (PML-N) leader Mariam Aurangzeb said that PML-N has no intention to talk to PTI-backed candidates to form a government.
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What has Imran Khan’s son said about the general elections?
Imran Khan’s sons, Kasim and Suleiman Khan, had urged people to vote in the 2024 general elections in Pakistan, held on February 8. They shared their message on Twitter, asking everyone to vote and get their friends and family to do the same.
The two posted a picture holding the PTI flag and said, “Tomorrow is a big day for Pakistan. Your vote is important because it is your future.” They asked people to make a video saying they voted for PTI and share it on social media with #votePTI.
Their tweet quickly became popular online, showing how their message resonated with many. By encouraging people to support PTI, they hope to make a difference in the upcoming elections and remind everyone of the importance of voting in democracy.کل پاکستان کے لیے بہت بڑا دن ہے۔ آپ کا ووٹ اہم ہے کیونکہ یہ آپ کامستقبل ہے۔ براہ کرم ووٹ ڈالنے کے بعد ایک ویڈیوں بنائیں “میں نے پی ٹی آئ کو ووٹ دیا” اور ویڈیوں یا تصویرسوشل میڈیا پر ڈال دیں۔ پاکستان زندہ باد #votePTI!
پاکستان زندہ باد pic.twitter.com/RGNjtxciY3
— Kasim Khan (@Kasim_Khan_1999) February 7, 2024
And after polling he took to X (formerly twitter) and said, “Thank You all for voting PTI”
Thank you all for voting PTI
— Kasim Khan (@Kasim_Khan_1999) February 9, 2024
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Mohsin Dawar injured in a firing incident
Leader of the National Democratic Movement (NDM), Mohsin Dawar, has sustained severe injuries in a gunfire attack.
Party officials claimed that police officials targeted Dawar as he entered a government compound along with a group of people, protesting delays in result.
He was sitting outside the RO office for two nights and decided to enter the office today after three days of delay.
Dawar has been a member of the National Assembly from August 2018 until August 2023.
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Indian actor says Pakistani content is better than Indian content
Pakistani TV shows are getting more and more popular worldwide, and especially across the border in India. All our hit shows are not just avidly followed here but also across the border. Indian TV channels and media might just be fretting that their own shows aren’t as popular as they used to be.
Indian actor Sushant Singh recently talked to the media about this. “Our neighbouring country, Pakistan, who we usually see as our enemy, is making amazing TV shows. Just look at their shows and then look at ours. What are we giving to the people? Why are we making low-quality shows? When people criticize our shows, why aren’t we trying to improve? Are we going to keep making the same kind of shows? What message are we sending to actors and viewers — to watch our shows or to stop watching because we won’t change? Don’t we want to get better? We’ve made great shows despite tough conditions, and we should keep striving for better quality,” he said.He also stressed the importance of actors’ voices being heard.
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PKR registers only 0.92% rise against US dollar since the onset of 2024
The Pakistani rupee (PKR) maintained its upward trajectory for the 13th consecutive week, gaining 12.88 paisa against the US dollar and settling at PKR 279.28 per USD.
This positive momentum marks a notable shift from the previous week’s closing rate of PKR 279.41 per USD.
Analysing the broader financial trends, the PKR has appreciated against the US dollar by 6.71 rupees, or 2.4 per cent, during the current financial year. Looking at the calendar year, the PKR has shown a gain of 2.58 rupees, or 0.92 per cent.
Friday’s trading session witnessed the PKR displaying strength as it appreciated by over 6 paisa. The intraday high (bid) reached 279.9, while the low (ask) touched 279.6, showcasing the currency’s resilience in the face of market fluctuations.
In the open market, exchange companies quoted buying rates at 278.89 and selling rates at 281, contributing to the overall positive sentiment surrounding the PKR.
Comparatively, against major currencies, the PKR experienced a marginal loss of 26.91 paisa against the Euro, closing at 300.87.
Meanwhile, the British Pound became more affordable by 20.31 paisa, closing at 352.33. The Swiss Franc saw a decline of 1.59 rupees, closing at 318.89, and against the Japanese Yen, the PKR gained 1.71 paisa, closing at 1.8695.
In the global currency market, the Chinese Yuan lost 0.4 paisa, closing at 38.82, while the Saudi Riyal closed at 74.47, experiencing a marginal loss of 1.43 paisa. The U.A.E. dirham also saw a decrease in value of 1.57 paisa, settling at 76.05.
Shifting focus to the money market, the benchmark 6-month Karachi Interbank bid and offer rates experienced a 9 basis point increase, reaching 21.05 per cent and 21.3 per cent, respectively.
This upward movement in yields follows the State Bank of Pakistan (SBP) maintaining the policy rate at 22 per cent for the fifth consecutive meeting, contributing to the evolving financial landscape.
