Crude oil prices climbed for a fourth consecutive day on Thursday, following a new wave of US strikes on the Iranian military. This geopolitical development fuels concerns over supply and global inflationary pressures. The Bank of Korea also raised interest rates for the first time in over three years to stabilise its currency and curb inflation. Higher international oil prices often bolster gold's appeal as an inflation hedge and could exert upward pressure on imported inflation and the USD/PKR rate in Pakistan.
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