Brent crude surged past $100 a barrel after US President Donald Trump threatened "major military punishment" for Iran and its Houthi allies, intensifying geopolitical uncertainties. This sharp rise in oil prices is fueling global inflation fears, leading to a retreat in China and Hong Kong stock markets. Analysts note that higher energy costs typically contribute to broader inflationary pressures worldwide. For Pakistani gold and currency traders, sustained high oil prices could increase imported inflation and pressure the USD/PKR rate, potentially boosting local gold demand as an inflation hedge.
بحوالہ / Source: www.brecorder.com