pakistan
Gold jumps on weaker dollar, Middle East peace hopes
Key takeaways
- Add ARY News on Google AAResize Gold prices rose 2% on Wednesday, buoyed by a weaker dollar, while softer oil prices eased fears of inflation and higher-for-longer interest rates, amid hopes of a U.S.-Iran peace deal.
- Spot gold was up 2% at $4,647.09 per ounce, as of 0415 GMT.
- US President Donald Trump said on Tuesday he would briefly pause an operation to help escort ships through the Strait of Hormuz, citing progress toward a comprehensive agreement with Iran.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Gold prices rose 2% on Wednesday, buoyed by a weaker dollar, while softer oil prices eased fears of inflation and higher-for-longer interest rates, amid hopes of a U.S.-Iran peace deal.
Spot gold was up 2% at $4,647.09 per ounce, as of 0415 GMT. U.S. gold futures for June delivery rose 2% to $4,658.
US President Donald Trump said on Tuesday he would briefly pause an operation to help escort ships through the Strait of Hormuz, citing progress toward a comprehensive agreement with Iran.
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