Spot gold rose 0.9% to $4,042.69 per ounce, with US gold futures also up 0.8% at $4,047.40. This surge comes as hopes for US-Iran diplomacy softened oil prices, reducing concerns about persistent inflation and aggressive Fed rate hikes. Traders now price a 64% chance of a September rate hike, down from previous higher expectations. This international gold strength, coupled with potential USD softening, could support local gold prices in Pakistan.
بحوالہ / Source: www.brecorder.com