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Gold down by Rs950/tola

KARACHI: The good news ahead of the winter marriage season is that the price of gold in the local market has fallen by Rs950 to Rs46,850  per tola, whereas its per gram price came down at Rs40,157 with a reduction of Rs814 following offloading amid a weaker global trend, Samaa reported. According to traders, sentiments…

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October 31, 2014


Ever seen a gold nugget as huge as this…?

One of the biggest gold nuggets found in modern times in Northern California’s historic Gold Country is going up for sale. Weighing in at more than 6 pounds, the Butte Nugget is expected to carry a price tag of $350,000. Feast your eyes on this groovy lump of gold…It's awesomely huge…

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October 23, 2014


Mickey Mouse coins, a legal tender in a tiny state

WELLINGTON: The Pacific nation of Niue has released new coins with images of Disney characters on one side and Queen Elizabeth II on the other — and no, they're not taking the mickey. The solid gold and silver coins produced by the New Zealand Mint are legal tender in the tiny Polynesian island, although experts…

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October 13, 2014


Hockey: India, Pakistan gold medal battle today

INCHEON: Arch-rivals India and Pakistan face off in a mouth-watering field hockey final at the Asian Games on Thursday with a place in the 2016 Olympics at stake. Millions of fans in both nations will be glued to their television screens for the title clash which earns the winner a ticket to Rio de Janeiro…

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October 2, 2014


Pakistan women cricket team bag first gold in Asian Games

INCHEON: Pakistan women cricket brought glory to the nation on Friday after beating Bangladesh by four runs in the final of Asian Games women cricket event, Samaa reports. Pakistan secured its first gold medal in the Asian Games after the win and the team was successfully able to defend the title. Batting first Pakistani team…

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September 26, 2014


Asian Games: China win first gold of the 2014 Asiad

INCHEON: China won the first gold medal of the 2014 Asian Games on Saturday when its women shooters — Olympic champion Guo Wenjun, Zhang Mengyuan and Zhou Qingyuan — clinched the 10m air pistol team title. Hosts and defending champions South Korea, who were the pre-Games favourites, finished a poor fourth behind silver-medallists Taiwan and…

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September 20, 2014


ECP data shows many senators sitting on a gold mine

ISLAMABAD: The Election Commission of Pakistan (ECP) Thursday released details of declared gold assets of Senators, with Senator Nawabzada Saifullah Magsi being on top with 1100 tolas of gold, Samaa reported. Our correspondent quoting ECP data said that just 10% of the upper house lawmakers (25 senators) own 6,180 tolas of gold with an estimated…

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September 11, 2014


Oil, gold prices supported by widespread unrest

LONDON: Oil and gold prices won some support this week from Western sanctions imposed on Russia and owing to crises gripping Iraq and Gaza, traders said. US jets struck jihadist positions in northern Iraq on Friday, a potential turning point in a two-month crisis Washington said was threatening to lead to genocide and to expose…

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August 8, 2014


CGames: Pakistani boxer loses close fight for gold

GLASGOW: Pakistani pugilist, Muhammad Waseem, lost a close battle for gold to Australia's Andrew Moloney in the Commonwealth Games Flyweight (52 kilogram) division here on Saturday, Samaa reported. Silver medalist Waseem fought hard putting everything into his lightning fast punches but Moloney got away with the gold medal after a unanimous point decision. Moloney secured…

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August 2, 2014


Ukraine crisis rocks prices

LONDON: Commodities faced choppy trade this week, with gold torn between concerns over the Ukraine crisis and the prospect of a US interest rate hike in mid-2015. Gold forged a six-month pinnacle as investors sought a safe haven from the growing Ukraine fears, before pulling lower as the dollar strengthened. Elsewhere, copper dived to a…

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March 22, 2014


Pakistan extends ban on gold imports to March 31

MUMBAI: Pakistan has extended its ban on gold imports to March 31, the finance ministry said on Tuesday, as it tries to stop smuggling to India where high import duties have made supplies scarce. India's import duty of 10 percent and tight restrictions on supplies to rescue state finances have virtually dried up legal imports…

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March 11, 2014


India tightens checks to curb gold smuggling

MUMBAI: India has started to make physical checks of gold stocks held by wholesalers to ensure inventories match the amount imported by banks and state-run traders, an industry association said, as the country steps up efforts to halt smuggling. The move could aggravate shortages in the physical market as authorities seize gold without a valid…

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March 3, 2014


Mounting gold prices deprive women of gold jewelry

Muhammad Sheharyar sheds light on mounting prices of gold in Pakistan again. Surging gold prices have compelled the women to quit it and use the artificial jewelry.

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January 25, 2014


ECC places temporary one-month ban on gold imports

Staff ReportISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has placed a temporary ban on the import of gold.The decision to this effect was taken in the ECC meeting chaired by Federal Finance Minister Ishaq Dar yesterday.The ECC decided to place the ban for one-month period with immediate effect. The move is aimed to…

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January 21, 2014


Asia shares turn mixed as China disappoints, gold bounces

SYDNEY: Asian share markets endured mixed fortunes on Thursday in the wake of disappointing data on Chinese manufacturing, while investors showed renewed appetite for commodities as the new year got underway.Gold grabbed the limelight with a 1.5 percent jump to $1,223.46 an ounce, recouping just a little of the losses that made last year its…

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January 2, 2014


With gold scarce, wedding buyers in India recycle jewellery

MUMBAI: Faced with high premiums to secure scarce supplies of gold, relatives and guests at Indian weddings are having their old heirlooms melted down to be reused as traditional presents.Along the narrow lanes of Mumbai's historic Zaveri jewellery bazaar, many shops display placards saying “we buy old gold jewellery”, tempting buyers who face a $125…

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November 30, 2013


Teen-aged servant snatches1kg gold in Peshawar

Tariq Waheed shows us a teen-aged servant in police custody. This innocent looking little boy snatched over one kilogram of gold with cash from house of his employer, a former commissioner, in Peshawar.

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November 20, 2013


India runs for gold to end up in disgrace

Om Baba Shobhan Sarkar’s dream sparked a massive hunt for gold in the Daundia Khera village in Uttar Pradesh. But, the large-scale excavation was wrapped up with a disgrace for the country.

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October 30, 2013


Gold climbs to near 5-week high on Fed stimulus hopes

SINGAPORE: Gold gained for a fourth session on Tuesday, edging closer to a five-week high, as weak US economic data boosted views the Federal Reserve would maintain its stimulus measures, burnishing the metal's appeal as an inflation-hedge.The Fed begins a two-day policy meeting on Tuesday in which it is widely expected to confirm it will…

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October 29, 2013


Indian sage dreams of gold to save economy, government starts digging

NEW DELHI: The Indian government is digging for treasure after a civic-minded Hindu village sage dreamt that 1,000 tonnes of gold was buried under a ruined palace, and wrote to tell the central bank about it. The state Archaeological Survey of India has sent a team of archaeologists to the village of Daundia Khera in…

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October 15, 2013


Arab Spring hardships hit Mecca gold sales

MECCA, Saudi Arabia: Economic hardships brought about by Arab Spring uprisings have taken a toll on jewelry retail trade in Saudi Arabia's Muslim holy city of Mecca, slashing gold sales by more than half compared to the same period last year, retailers said.Visitors from Arab countries traditionally buy jewelry during the annual Muslim haj pilgrimage,…

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October 13, 2013