London's FTSE 100 index slipped on Wednesday as investors remained cautious over escalating tensions in the Middle East. Precious metals miners were the worst-performing sector, declining 2.3%, with major companies like Fresnillo and Endeavour Mining seeing significant falls.
Conversely, energy stocks rose 0.3% as crude oil prices climbed around 2%. This surge followed U.S. President Donald Trump's reimposition of a naval blockade on Iranian ports and Iran's threat to close other export corridors.
For gold and currency rates in Pakistan, rising oil prices due to Middle East tensions could increase global inflation concerns and potentially boost safe-haven demand for gold, while a weaker sentiment for precious metal miners might exert some downward pressure on international gold prices.
بحوالہ / Source: www.brecorder.com