Spot gold eased 0.5% to $4,027.54 per ounce, down significantly from a two-week high, as Brent crude surged 7% to over $100 a barrel. This rise in oil prices intensifies inflation concerns, bolstering expectations for the US Federal Reserve to maintain higher interest rates. While gold is an inflation hedge, its appeal diminishes in a high-interest-rate environment. This international gold price movement, coupled with potential USD strength, could influence local gold rates and the USD/PKR exchange rate in Pakistan.
بحوالہ / Source: www.brecorder.com