The US attacked Iranian bridges and an airport, while Iran retaliated by hitting a power plant in Kuwait, marking a significant escalation in their conflict. This renewed aggression has led to both nations reinstating blockades in the contested Strait of Hormuz, threatening global energy supplies. Brent crude prices surged 2% to $86, reaching their highest level since a ceasefire agreement collapsed. This geopolitical tension and rising oil prices could increase safe-haven demand for gold and potentially pressure the Pakistani Rupee due to higher import costs.
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