Gold Prices: Bullion Falls 1.1% as Oil Rebound Fuels Inflation Concerns
Gold declined on Friday as rising energy prices strengthened expectations of higher interest rates, while investors awaited key US employment data.
Gold declined on Friday as rising energy prices strengthened expectations of higher interest rates, while investors awaited key US employment data.
Brent and WTI futures rose for a second consecutive session on Friday, but expectations of easing tensions in the Iran war kept both benchmarks on track for their steepest weekly losses in months.
Petrol price falls to Rs352.59 per litre, while the new diesel rate stands at Rs382.25.
Brent rises 1.85% to $96.37 a barrel after plunging more than 8% in the previous session, as investors weigh geopolitical risks and the prospects for diplomacy.
US stock futures moved in different directions on Thursday after a strong rally in the previous session, as investors assessed falling oil prices, midterm election results and fresh corporate earnings.
The benchmark index gains 2.38% as falling international oil prices and easing geopolitical concerns lift investor sentiment at the Pakistan Stock Exchange.
Brent crude climbs above $104 per barrel as geopolitical uncertainty, Strait of Hormuz supply risks and falling US crude inventories support the market.
Institutional demand, stable oil prices and hopes of progress in US-Iran talks support investor sentiment as markets monitor US midterm election results.
National Foods Limited faced significant margin pressure in the first quarter of FY27 as rising
Oil prices rose by more than 1% on Wednesday after Yemen’s Houthis claimed they had