Cotton price at fresh all-time high
Cotton prices hit a record high both in global and local markets, reaching Rs 9,000 per ton in Pakistan. Indian traders have stopped export of cotton to Pakistan.
According to Ginners Association Executive Member Ehsanul Haq, rise in cotton prices at international markets caused surge locally.
US cotton futures finished Tuesday at a fresh all-time high on worries over tight supplies and an overnight surge in China’s cotton prices. Cotton rose more than 20 percent in October and is up nearly 85 percent since the beginning of the rally in July.
Cotton prices hit record high
Cotton prices hit a record high both in global and local markets with Rs 8,800 per 40kg in Pakistan.
According to Ginners Association Executive Member Ehsanul Haq, rise in cotton prices at international markets caused a Rs300 surge locally. In international markets, the prices rose to 149 cents per pounds with 33 percent raise. Due to the recent devastating floods, cotton production in Pakistan has reduced drastically, below than the domestic industrial needs.
Cotton prices hit record high
Cotton prices hit a record high both in global and local markets with Rs 8,800 per 40kg in Pakistan.
According to Ginners Association Executive Member Ehsanul Haq, rise in cotton prices at international markets caused a Rs300 surge locally. In international markets, the prices rose to 149 cents per pounds with 33 percent raise. Due to the recent devastating floods, cotton production in Pakistan has reduced drastically, below than the domestic industrial needs.
Cotton prices hit fresh high
Cotton prices hit a record high both in global and local markets with $1.29 rise in New York market.Rates of cotton in Pakistan also shot up as a maund was being sold at Rs8,500 with an addition of Rs 100. Cotton was up by 30 percent in the international market in a month. Due to the recent devastating floods, cotton production in Pakistan has reduced drastically, below than the domestic industrial needs.
Cotton hits record high
Cotton prices hit a record high both in global and local markets with Rs.7,600 per 40kg in Pakistan and 125 cents per pounds internationally.
Pakistani exporters have done the export deals of 200 tons at a rate of 120 pound per cent. Due to the recent devastating floods, cotton production in Pakistan has reduced drastically, below than the domestic industrial needs. However, no cotton export policy has yet been announced. Whereas contrary to it, India has put a ceiling on exports exceeding 5.5 million bales of cotton, although their production is far above than their domestic needs..
Bulls hold sway at gold markets
Gold and silver prices continued to rise in local and international markets this week as gold hit all time high on last business day and added $74 per ounce while silver stood at $2.50. According to Sindh Sarafa Market, gold prices surged in local markets due to increase in international markets. According to World Gold Council, uncertainty in the global economic condition forced the traders to buy the commodity, which pushed the prices.
Bulls hold sway at gold markets
Gold and silver prices continued to rise in local and international markets this week as gold hit all time high on last business day and added $74 per ounce while silver stood at $2.50. According to Sindh Sarafa Market, gold prices surged in local markets due to increase in international markets. According to World Gold Council, uncertainty in the global economic condition forced the traders to buy the commodity, which pushed the prices.
Bulls hold sway at gold markets this week
Gold price continued to rise in local and international markets this week as gold hit all time high on last business day and touched Rs 41,000 per tola.
According to Sindh Sarafa Market, gold prices surged in local markets due to increase in international markets. During last three weeks, gold prices surged by Rs 1800 per tola. While, international market witnessed increase of 60 dollars per ounce.
Gold hits all time high of Rs 40,550 per tola
Gold price continued to rise in local and international markets as gold hit record high on Thursday and reached Rs 40,550 per tola in Pakistan.
Gold prices surged to Rs 40,550 per tola, up Rs 275 whereas price of 10 grams increased to Rs 34,457, up Rs 236 in local markets including Karachi. During last three days, gold price has been increase by Rs 800 per tola.
Gold hits record high
The trend of increase in gold prices continued in local and international markets as gold traded at record high of above Rs 40,000 per tola in Pakistan on Tuesday.
Gold prices surged to Rs 40,165 per tola, up Rs 415 whereas price of 10 grams increased to Rs 34,437, up Rs 356 in local markets including Karachi. In international markets, gold price increased by $15 per ounce to reach $1,245. The continuous decline of dollar value is causing surge in gold buying and the prices are increasing.
