The PSX benchmark KSE-100 index plunged 2,690 points (1.54%) to 171,739.45, driven by investor panic over rising oil prices from Gulf war tensions. Geopolitical uncertainty between the US and Iran, coupled with Houthi attacks, fueled a sharp rally in global energy markets. This has heightened fears of significant inflationary pressures in Pakistan, heavily reliant on energy imports via the Strait of Hormuz. This scenario could support local gold prices as an inflation hedge and safe haven, while potentially increasing pressure on the USD/PKR exchange rate due to higher import costs.
بحوالہ / Source: www.dawn.com