Ahmed Shameel

LONDON: Gold rates chalked up another record peak on Tuesday before pulling lower as the dollar clawed back earlier losses, while equity markets struggled with mounting coronavirus fears, dealers said. With worrying new spikes in infections in Asia and Europe — on top of the already-high new US cases — forcing governments to impose strict COVID-19 containment measures, the global economic outlook remains clouded, putting the brakes on a months-long stocks rally. The virus uncertainty, combined with China-US tensions, has sent gold soaring nearly 30% this year — and, on Tuesday, it struck another record pinnacle at $1,981.27 per ounce in Asian trade. That smashed the previous day's peak but it later pared the advance to sit lower for the day. But observers say $2,000 could be broken as early as this week, with focus on the Federal Reserve's next policy meeting, which is tipped to see it unveil more easing measures to support the world's top economy. US second-q...

Two bears at the Islamabad zoo still haven’t been shifted to Balkasar Bear Sanctuary due to health concerns, the Islamabad High Court was informed on Wednesday. The sanctuary authorities said that the temperature at the sanctuary is not suitable for the two bears. A German vet is currently treating them. Justice Athar Minallah, while hearing a case on implementation of the court’s verdict on shifting all animals at the Marghazar zoo to suitable sanctuaries, asked why it shouldn’t be investigated why the bears were brought to Islamabad and on whose orders. “Why are you harming animals for the sake of recreation?” Read more: Kaavan being sent to Cambodia, govt tells court He was informed that former wildlife director Raja Jawad issued a tender and purchased them for the zoo. The court summoned more details on the transfer of the bears by July 29 and adjourned the hearing. Many activists rejoiced after the court had ordered the transfer of animals from Marghazar z...