Spot gold fell 1.5% to $4,001.17 per ounce, with US gold futures also down, as Middle East tensions pushed oil prices over 1% higher. This surge in oil stoked inflation fears, increasing expectations for elevated US interest rates and diminishing gold's appeal as a non-yielding asset. The US dollar gained 0.2%, making bullion more expensive for overseas buyers, while benchmark 10-year US Treasury yields also drifted higher. For Pakistani investors, a stronger US dollar and potential international gold weakness could influence local gold and silver rates, potentially making imports costlier but local prices more stable if global prices decline.
بحوالہ / Source: www.brecorder.com