Spot gold fell 3.4% this week to $3,980.64 per ounce, its biggest weekly loss since June 1, despite softer US inflation data. The decline is due to a 12% jump in oil prices from intensifying US-Iran hostilities, reigniting inflation concerns. This strengthens the case for higher US interest rates, making non-yielding gold less attractive. For Pakistani investors, rising international gold prices and a stronger US dollar could push local gold rates higher, while oil price volatility adds economic uncertainty.
بحوالہ / Source: www.brecorder.com