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Third-day decline, gold prices weaken on rising dollar – SUCH TV

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Third-day decline, gold prices weaken on rising dollar – SUCH TV



Gold prices continued their decline on Monday, falling for the third straight session as the US dollar held near a six-month high, putting pressure on the precious metal. At 10:37 am PST, spot gold was trading at $4,044.24 per ounce, down 0.48 percent from previous levels.

The strong dollar has made gold more expensive for international buyers, prompting selling in the market. Traders are also keeping a close eye on the Federal Reserve, waiting for signals on the future of interest rates. Investor expectations for a potential rate cut next month eased slightly to 69 percent from 74 percent, according to the CME FedWatch Tool.

Earlier in the week, hopes of a rate cut had surged from 40 percent following dovish remarks from New York Fed President John Williams. Yet, other Fed officials sounded a more cautious note. Dallas Fed President Lorie Logan suggested maintaining the policy rate “for a time,” while the Chicago and Cleveland Fed presidents warned that premature cuts could pose risks to economic stability.

Geopolitical developments added further complexity to markets. The US and Ukraine resumed talks on Monday aimed at ending the war with Russia, following revisions to a previously criticised proposal seen as too favourable to Moscow.

In other precious metals, spot silver remained steady at $49.98 per ounce. Platinum rose 1.5 percent to $1,533.20, while palladium gained 1.3 percent to $1,392.21.

Gold price in Pakistan

Despite the global decline, gold prices in Pakistan rose on Saturday, mirroring earlier international gains. The price of gold per tola increased by Rs2,300 to reach Rs428,862. Ten-gram gold was sold at Rs367,680, up Rs1,972 compared with Friday, when gold per tola remained stable at Rs426,562.

The international price of gold had risen by $23 to $4,065 per ounce, with an additional premium of $20 in local markets. Silver prices also climbed, increasing by Rs48 to Rs5,270 per tola, according to the All-Pakistan Gems and Jewellers Sarafa Association.

Market analysts suggest that while local prices are influenced by international trends, currency fluctuations and local demand also play a significant role in driving short-term movements.

 



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Govt keeps petrol, diesel prices unchanged for coming fortnight – SUCH TV

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Govt keeps petrol, diesel prices unchanged for coming fortnight – SUCH TV



The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.

This decision was notified in a press release issued by the Petroleum Division.

Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.

Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.

Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.

The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.

 



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Serial rail fare evader faces jail over 112 unpaid tickets

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Serial rail fare evader faces jail over 112 unpaid tickets


One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.

Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.

He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.

He will be sentenced next month.

District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.

He pleaded guilty to 76 offences on Thursday.

It came after he was convicted in his absence of 36 charges at a previous hearing.

During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.

They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.

But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.



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JSW Likely To Launch Jetour T2 SUV In India This Year: Reports

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JSW Likely To Launch Jetour T2 SUV In India This Year: Reports


JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.

Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra. 

According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.

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Expected Powertrain

The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.

Design

In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction. 

Size

The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.

Price

Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.

Jetour

Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.



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