pakistan
Gold on track for weekly gain
Key takeaways
- Spot gold was up 0.7% at $4,715.49 per ounce, as of 0407 GMT.
- US gold futures for June delivery rose 0.3% to $4,725.
- The United States and Iran exchanged fire on Thursday in the most serious test yet of their month-long ceasefire, but Iran said the situation returned to normal while the US said it did not want to escalate.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Gold rose on Friday and was headed for a weekly gain on easing fears of inflation and higher interest rates, as investors remained optimistic about a US-Iran peace deal despite renewed hostilities.
Spot gold was up 0.7% at $4,715.49 per ounce, as of 0407 GMT. Bullion has gained 2.2% so far this week.
US gold futures for June delivery rose 0.3% to $4,725.
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