Gold Steady as Fed Hints at Rate Hike; Local Rates Flat Despite Global Drop

Global gold prices remained stable despite a 1% drop internationally, following signals from the US Federal Reserve that it still has "work to do" on inflation, implying further rate hikes. This hawkish stance typically strengthens the dollar, putting downward pressure on gold. In Pakistan, local gold rates surprisingly stayed flat, absorbing the global decline. This divergence suggests local market factors or strong demand may be counteracting international trends, potentially influencing USD/PKR stability.

بحوالہ / Source: tribune.com.pk