Copper and other base metals declined Friday due to escalating Middle East tensions, which fueled inflation concerns and clouded the demand outlook. Benchmark LME copper lost 0.88% to $13,479.5 a ton, while oil prices surged, with Brent crude up nearly 12% this week. Despite a slight Friday gain, non-yielding gold faced its largest weekly loss in six weeks, driven by expectations that persistent inflation could lead to prolonged high interest rates. This global sentiment, particularly regarding oil prices and US interest rate outlook, could influence local gold and currency rates in Pakistan.
بحوالہ / Source: www.brecorder.com