International crude oil prices plunged over 5% as a pause in Middle East fighting eased geopolitical tensions and inflation fears. This global sentiment, coupled with expectations that the State Bank of Pakistan will keep its policy rate unchanged, spurred significant buying at the PSX. The decline in oil prices also led markets to pare probabilities of Federal Reserve rate hikes. For Pakistan, lower oil prices could ease import costs and inflation, potentially supporting the PKR and reducing pressure on gold prices.
بحوالہ / Source: www.brecorder.com